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:

Specialized Knowledge

Expertise or information in a specific field, distinguishing one from lay knowledge.

Participative Leadership

A philosophy of and approach to leadership that taps the constructive power of people, resulting in both a humanistic and productive workplace. The participative leader begins by involving people, which is necessary to achieve understanding, which is necessary to achieve commitment. See democratic and empowerment.

Commitment

A pledge or promise to do something, often involving dedication and loyalty towards a goal, project, or relationship.

Understanding

The ability to grasp the meaning, significance, or nature of something, typically leading to a deeper comprehension or empathy.