SXC Reported the Following Data on Its 2014 Statement of Financial

question 158

Multiple Choice

SXC reported the following data on its 2014 statement of financial position: If the average price paid for all of the common shares sold and subscribed were $5.00, the total number of sold and subscribed shares was:

• A)44,000
• B)44,400
• C)40,000
• D)40,400
• E)None of these answers are correct.

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Definitions:

Accounting Profit

The total revenue of a business minus the explicit costs, representing the financial gain on its income statement.

Economic Cost

The total cost of choosing one action over another, including both the costs incurred and the opportunity costs of forgone alternatives.

Financial Capital

Refers to the funds provided by lenders (and investors) to businesses to purchase real capital.

Machinery

Equipment and devices that perform specific tasks in industries, contributing to production processes.