Which of the following is true about the link between authorized share capital and issued share capital?

Question:

Which of the following is true about the link between authorized share capital and issued share capital?
(a) Issued share capital can exceed the authorized share capital.
(b) Issued share capital can be less than or equal to the authorized share capital.
(c) Issued share capital can never equal the authorized share capital.
(d) None of these.

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