The state charter allows a corporation to issue only a certain number of shares of each class of stock. This amount of stock is called a. outstanding stock. b. treasury stock. c. authorized stock. d. issued stock.
The state charter allows a corporation to issue only a certain number of shares of each class of stock. This amount of stock is called a. outstanding stock. b. treasury stock. c. authorized stock. d. issued stock.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The state charter allows a corporation to issue only a certain number of shares of each class of stock. This amount of stock is called
a. outstanding stock.
b. treasury stock .
c. authorized stock.
d. issued stock.
The charter of a corporation provides for the issuance of 100,000 shares of common stock. Assume that 40,000 shares were originally issued and 10,000 were subsequently reacquired. What is the number of shares outstanding?
A. 30,000
B. 50,000
C. 10,000
D. 40,000
The par value per share of common stock represents the
a. minimum amount the stockholder will receive when the corporation is liquidated.
b. minimum selling price of the stock established by the articles of incorporation.
c. amount of dividends per share to be received each year.
d. dollar amount assigned to each share.
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