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:

Third World Countries

A term historically used to describe nations that were neither aligned with the capitalist First World nor the communist Second World during the Cold War, often referring to developing countries.

Segregation Practices

Policies or practices promoting the separation of people based on racial or ethnic differences, historically enforced through laws and social norms.

Containment Policy

A United States foreign policy during the Cold War aimed at preventing the spread of communism by providing economic and military support to countries threatened by communist insurgency.

Truman Doctrine

A policy set forth by U.S. President Harry S. Truman in 1947, supporting countries that rejected communism, marking the start of the Cold War era.