Answer based on following passage.

Earn Limited, with an authorised capital of 10,00,000 is divided into equity shares of ₹ 10 each, issued 50,000 equity shares at a premium of 3 per share payable as follows.

On application - 3 per share
On allotment - 5 per share (including Premium)
On first and final call- Balance amount.

Applications were received for 60,000 shares. The Directors allotted the shares to all applicants on pro-rata basis. All money received except I call on 1,000 shares issued to Ravi.

Identify the term that represent authorised capital which is not offered for public subscription.

Unissued Capital 

The correct answer is Option (3) → Unissued Capital

Unissued capital  represent authorised capital which is not offered for public subscription.

Issued Capital is that part of the authorised capital which is actually issued to the public for subscription including the shares allotted to vendors and the signatories to the company’s memorandum. The authorised capital which is not offered for public subscription is known as ‘unissued capital’. Unissued capital may be offered for public subscription at a later date.