Quality Cleaning Corp

question 61

Multiple Choice

Quality Cleaning Corp. issued 50 no-par-value common shares for land with a market value of $4,000. Dillon had originally issued common shares at $100 two years ago, but there is currently no market value available for their shares. The amount of contributed capital arising from this transaction is:

• A) $4,000.
• B) $600.
• C) $1,000.
• D) $100.
• E) $6,000.

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Definitions:

Sales

The activities involved in selling products or services, often measured by the amount of revenue generated from transactions with customers.

Cost of Goods Sold

An accounting term for the direct costs attributable to the production of the goods sold in a company, including both raw materials and labor expenses.

Aggregate Planning

Strategic planning of overall output levels and resources to effectively meet demand over a period, typically months, considering various constraints and objectives.

Efficiency

The ability to achieve a goal or perform a task with the minimum expenditure of time and resources.