Concept:Authorized capital is the total shares a company may issue, while issued capital is the part shareholders actually subscribe to.Explanation:The company’s memorandum states the maximum amount it is allowed to raise as capital.This maximum is known as authorized share capital.When the company offers shares to investors, those shares are said to be issued.Investors who accept the offer are subscribing to the shares.Therefore, the amount of authorized capital that shareholders have subscribed to is the issued share capital.Answer:A. issued share capital