The charter of a corporation provides for the issuance of 126,000 shares of common stock. Assume that 70,000 shares were originally issued and 13,000 were subsequently reacquired. What is the number of shares outstanding? Oa. 126,000 Ob. 70,000 Oc. 57,000 Od. 13,000

The charter of a corporation provides for the issuance of 126,000 shares of common stock. Assume that 70,000 shares were originally issued and 13,000 were subsequently reacquired. What is the number of shares outstanding? Oa. 126,000 Ob. 70,000 Oc. 57,000 Od. 13,000

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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Question

The charter of a corporation provides for the issuance of
126,000 shares of common stock. Assume that 70,000 shares
were originally issued and 13,000 were subsequently
reacquired. What is the number of shares outstanding?
Oa. 126,000
Ob. 70,000
Oc. 57,000
Od. 13,000

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