U-Need-This Has $12 Million Liabilities,$12 Million Preferred Stock,10 Million Shares

question 149

Multiple Choice

U-Need-This has $12 million liabilities,$12 million preferred stock,10 million shares of common stock outstanding,and $39 million in total assets.The book value is

• A)$2.00 per share.
• B)$4.30 per share.
• C)$4.10 per share.
• D)$1.50 per share.
• E)none of the above.

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Definitions:

Checks and Balances

A system in government where each branch has the power to check or limit the actions of the other branches to prevent any single branch from becoming too powerful.

Constitution

The fundamental set of laws and principles that outlines the governance structure, rights, and duties within a state or organization.

Necessary and Proper Clause

A clause in the U.S. Constitution granting Congress the power to pass all laws required and appropriate for executing its declared powers.

Spending Power

The authority of a government to allocate its resources by making expenditures to achieve economic or social objectives.