What does the term 'capital stock' refer to?

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The maximum number of shares a company is allowed to issueThe aggregate par or stated value representing the corporation's permanent invested capitalBoth of the above definitions are correctNeither of these definitions is accurate

Explanation

Option A defines the authorized shares a corporation can issue, while option B describes the total par or stated value of the corporation's permanent invested capital. Therefore, capital stock encompasses both these aspects, making option C the correct choice.