Question

Eastport incorporated was organized on June 5, year 1. It was authorized to issue how many shares?

1) 400,000
2) 410,000
3) 420,000
4) 430,000

Answer 1

The authorized number of shares for Eastport Incorporated requires consulting its articles of incorporation or similar documentation which details the share structure and is filed with a governmental entity.

Step-by-step explanation:

The number of shares that Eastport Incorporated was authorized to issue is not provided within the context of the question. To determine the correct amount of shares Eastport Incorporated was authorized to issue, one would need to refer to the company's articles of incorporation or similar organizational documents that specify this information. Such documents are typically filed with a governmental body, such as the Secretary of State in the U.S., and contain details including the total number of authorized shares, the par value of the shares, if any, and the classes of shares, like common or preferred stock.