If a Company Issues 2,000 Shares for $55 and Then

question 19

Multiple Choice

If a company issues 2,000 shares for $55 and then repurchases 50 shares at $50, how much is in the account "contributed surplus on retirement of shares'?

• A)$250
• B)$2,750
• C)$107,250
• D)$110,000

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Definitions:

Individualism

A philosophy or social outlook that emphasizes the moral worth of the individual and prioritizes personal independence and self-reliance.

United States

A federal republic in North America consisting of 50 states, known for its significant influence on world politics, economy, and culture.

Functionalist

In sociology, functionalism is a theoretical perspective that views society as a complex system whose parts work together to promote solidarity and stability, emphasizing the interdependence of various social institutions.

Inequality

The uneven allocation of resources, opportunities, and rights across different members of a society.