The charter of a corporation provides for the issuance of 100.000 shares of common stock. Assume that 60,000 shares were originally issued and 5,000 were subsequently reacquired. What is the number of shares outstanding? a. 5,000. b. 100.000. c. 60,000. d. 55,000.

Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter10: Stockholder's Equity
Section: Chapter Questions
Problem 3MCQ: Authorized stock represents the: number of shares that are currently held by stockholders. number of...
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The charter of a corporation provides for the issuance of 100.000 shares of common stock. Assume that 60,000 shares were originally
issued and 5,000 were subsequently reacquired. What is the number of shares outstanding?
a. 5,000.
b. 100.000.
c. 60,000.
d. 55,000.
Transcribed Image Text:The charter of a corporation provides for the issuance of 100.000 shares of common stock. Assume that 60,000 shares were originally issued and 5,000 were subsequently reacquired. What is the number of shares outstanding? a. 5,000. b. 100.000. c. 60,000. d. 55,000.
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