May Corporation Had 37,000 Shares of $17 Par Value Common

question 98

Multiple Choice

May Corporation had 37,000 shares of $17 par value common stock outstanding with a market value of $30 per share. Gino announced a three-for-one stock split. After the split, the par value of the stock: (Round your answer to the nearest cent.)

• A) remained the same as before the split.
• B) was increased by $34.00 per share.
• C) was reduced to $5.67 per share.
• D) was reduced to $8.50 per share.

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Definitions:

Mental Abilities

The capacity to perform cognitive tasks, understand complex ideas, learn from experience, reason, and solve problems.

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Adhering strictly to empirical standards and methods in research or study to ensure validity, reliability, and accuracy.

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The process of conducting tests and analyses under controlled conditions to explore hypotheses and observe outcomes in research.

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The aggregate of qualities or characteristics that distinguish an individual’s personal character.