RKJ Company Has Provided the Following Information

question 88

Multiple Choice

RKJ Company has provided the following information:
• 100,000 shares of $5 par value common stock are authorized
• 70,000 shares have been issued
• 65,000 shares are outstanding
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Which of the following statements is correct?

• A)RKJ can issue an additional 30,000 shares of treasury stock.
• B)RKJ has 30,000 shares of treasury stock.
• C)RKJ can resell 5,000 shares of treasury stock.
• D)RKJ can issue an additional 35,000 shares of common stock.

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Definitions:

Moral Development

The process through which individuals grow in their understanding of morals, ethical behavior, and the reasoning behind their own choices regarding right and wrong.

Postconventional

A stage of moral development where individuals make decisions based on internal principles and values, rather than conforming to societal norms.

Conventional

Referring to ideas, methods, or standards that are widely accepted and practiced within a society or culture.

Preconventional

A level of moral development where individuals' decision-making is based on avoiding punishment or seeking personal gain.