If Convertible Preferred Shares Are Converted into Common Shares

question 33

Multiple Choice

If convertible preferred shares are converted into common shares,

• A) a gain on conversion must be recorded if the legal capital of the preferred shares is greater than the legal capital of the common shares.
• B) a loss on conversion must be recorded if the legal capital of the preferred shares is less than the legal capital of the common shares.
• C) a gain or loss on conversion is not recognized or recorded.
• D) the fair value of the preferred shares on the date of conversion is credited to the Common Shares account.

Grasp the differences in estimating methods across project phases.

Learn the concept of actual cost versus detailed cost estimates.

Understand how to calculate and interpret cost performance indices and variances.

Recognize the role and management of reserves in project budgeting.

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