ABC Declared a Common Stock Dividend on March 10, at Which

question 153

Multiple Choice

ABC declared a common stock dividend on March 10, at which time its shares were selling for $15 per share and 10,500 shares were outstanding.After the dividend, because only 13,650 shares were outstanding, some shareholders received fractional share rights.If the provisions of the dividend provided that one share was to be issued for each three shares previously owned, there must have been:

• A)Fractional shares outstanding not determinable based on the information given.
• B)350 fractional share rights outstanding.
• C)117 fractional share rights outstanding.
• D)1,050 fractional share rights outstanding.

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Definitions:

Eye Contact

The act of two individuals looking into each other's eyes, which plays a significant role in communication by conveying attention, confidence, and social cues.

Cross-cultural Communication

The exchange of information between individuals from different cultures, requiring awareness and sensitivity to cultural variances.

Cultures

The shared values, beliefs, norms, and practices that characterize a group of people or society, shaping their behavior and interactions.

Different Languages

Varieties of linguistic systems used for communication between people, not sharing a common native language.