If Only One Type of Stock Is Issued,it Is

question 100

Multiple Choice

If only one type of stock is issued,it is:

• A)no-par preferred stock.
• B)preferred stock.
• C)legal capital.
• D)common stock.

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Definitions:

Consideration

The benefit, interest, or value that induces a party to enter into a contract.

Revoking Assignment

The act of withdrawing or cancelling a task, duty, or responsibility that has been assigned to someone.

UCC

The Uniform Commercial Code, a comprehensive set of laws governing commercial transactions in the United States.

Prohibits Assignments

A clause within contracts that restricts or forbids the transfer of rights, responsibilities, or interests from one party to another without prior approval.