MNO Declared a Stock Dividend When It Had 40,000 Shares

question 130

Multiple Choice

MNO declared a stock dividend when it had 40,000 shares outstanding.After issuing the dividend, 7,200 additional shares and 4,000 fractional share rights were outstanding.If it required five fractional share rights to acquire a new share, this dividend must have been a:

• A)5 percent stock dividend.
• B)20 percent stock dividend.
• C)15 percent stock dividend.
• D)10 percent stock dividend.

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