A customer previously entered an open order to buy 500 shares of XYZ at $40 that was accepted by a brokerage firm. If XYZ announced a 10% stock dividend, how will the order be adjusted on the ex-dividend date? 500 shares of XYZ at $36.36 The order would be canceled 500 shares of XYZ at $40 550 shares of XYZ at $36.36

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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A customer previously entered an open order to buy 500 shares of XYZ at $40 that was accepted by a brokerage firm. If XYZ announced a 10% stock dividend, how will the
order be adjusted on the ex-dividend date?
500 shares of XYZ at $36.36
The order would be canceled
500 shares of XYZ at $40
550 shares of XYZ at $36.36
Transcribed Image Text:A customer previously entered an open order to buy 500 shares of XYZ at $40 that was accepted by a brokerage firm. If XYZ announced a 10% stock dividend, how will the order be adjusted on the ex-dividend date? 500 shares of XYZ at $36.36 The order would be canceled 500 shares of XYZ at $40 550 shares of XYZ at $36.36
The consolidated Tape shows all of the following except
Common stocks
Bonds
Preferred stocks
Warrants
Transcribed Image Text:The consolidated Tape shows all of the following except Common stocks Bonds Preferred stocks Warrants
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