If 50,000 Shares Are Authorized, 37,000 Shares Are Issued, and 2,000

question 19

True/False

If 50,000 shares are authorized, 37,000 shares are issued, and 2,000 shares are reacquired, the number of outstanding shares is 35,000.

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Definitions:

Reasonable Care

The degree of caution and consideration an individual or organization is expected to exercise in a particular situation to avoid harm to others or their property.

Bailment

A legal relationship where physical possession of personal property is transferred from one person to another under the agreement that the property will be returned.

Ordinary Care

The level of care that a reasonably prudent person would exercise in a similar situation to prevent harm.

Damaged

Refers to the physical harm or deterioration suffered by goods, property, or reputation.