Julia Owns 1,000 Shares of Orange Corporation

question 61

Multiple Choice

Julia owns 1,000 shares of Orange Corporation.This year,Orange declared a 10% stock dividend.There was no option for shareholders to receive cash.When Julia received 100 shares of Orange stock,it had a fair market value of $50 a share.How much income does Julia have from the dividend?

• A)$0
• B)$50
• C)$5,000
• D)$50,000

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Definitions:

Landless Whites

Refers to white individuals, particularly in a historical context, who did not own land, facing economic and social challenges due to their lack of property.

Ex-Slave

A person who was formerly enslaved, especially in the context of American history prior to the abolition of slavery in 1865.

Black Abolitionists

Black Abolitionists were African American leaders and activists who played a significant role in the movement to abolish slavery in the United States.