In Canada, Consumer Issues Related to the Purchase of Goods

question 1

Multiple Choice

In Canada, consumer issues related to the purchase of goods and services are covered by which jurisdiction?

• A) federal
• B) provincial
• C) municipal
• D) international

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Definitions:

Stated Value

A value that is assigned to a share of stock by the company's board of directors, not based on market value, but used for accounting and reporting purposes.

Excess of Par

The amount by which a security's sale or issue price exceeds its par value.

Treasury Shares

Shares released to the public and afterward reclaimed by the issuer, cutting down the overall count of stock available on the open market.

Journalize

The process of recording transactions in an accounting journal.