The charter of Quantum Innovations provides for the issuance of 150,000 shares of common stock. Assume that 60,000 shares were originally issued and 10,000 were subsequently reacquired. What is the number of shares outstanding? a. 10,000 b. 60,000 c. 50,000 d. 70,000

Cornerstones of Financial Accounting
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Chapter10: Stockholder's Equity
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What is the number of shares outstanding? General accounting

The charter of Quantum Innovations provides for the
issuance of 150,000 shares of common stock. Assume
that 60,000 shares were originally issued and 10,000
were subsequently reacquired.
What is the number of shares outstanding?
a. 10,000
b. 60,000
c. 50,000
d. 70,000
Transcribed Image Text:The charter of Quantum Innovations provides for the issuance of 150,000 shares of common stock. Assume that 60,000 shares were originally issued and 10,000 were subsequently reacquired. What is the number of shares outstanding? a. 10,000 b. 60,000 c. 50,000 d. 70,000
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