"Authorized shares" refers to the number of shares the corporation is allowed to issue under its certificate or articles of incorporation. Authorized stock is the maximum number of shares that a corporation is legally permitted to issue, as specified in its articles of incorporation.The total number of shares issued and outstanding. 6. The type of stock held (i.e. Authorized shares are the maximum number of shares a company can issue, while outstanding shares are the number of shares that have already been issued. In California, a corporation must authorize at least one share but may authorize any number. Calculating financial ratios can help investors understand a company's financial position. 5,000 railroad ties will also be replaced in the 24-mile stretch between. Pomona and San Bernardino County.