Dr Ngai Just Turned 40

question 14

Multiple Choice

Dr. Ngai just turned 40. To celebrate the beginning of his tenure in middle-age he went to the optometrist and had his vision checked. To Dr. Ngai's surprise the optometrist informed him he suffers from presbyopia, which is __________

• A) a loss of elasticity in the cornea that reduces the ability to see far away.
• B) a loss of elasticity in the lens that reduces the ability to see close up.
• C) a loss of elasticity in the iris that reduces the ability of the pupil to dilate and contract.
• D) a clouding of the lens that can lead to blindness.

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Definitions:

Stated Value

A nominal value assigned to no-par shares by the issuing company, distinct from market value.

Par Value

The face value of a share of stock, as stated in the corporate charter, which may be unrelated to its market value.

No-Par Value Stock

Stock issued without a specified face value but which may have a stated value assigned by the company.

Stated Value

The value assigned to no-par-value stock by the board of directors of a company, which can then be used as the basis for accounting and legal purposes.