Lucie Corporation Was Formed on January 1 of the Current

question 67

Multiple Choice

Lucie Corporation was formed on January 1 of the current year. The corporate charter authorized the company to issue 100,000 common shares. During the first month ofoperation, the corporation issued 300 shares to its lawyer in payment of a $5,600 bill for preparing the articles of incorporation. The entry to record this transaction wouldinclude:

• A) A credit to Common Shares for $3,300.
• B) A debit to Organization Costs for $3,000.
• C) A debit to Organization Costs for $5,600.
• D) A credit to Organization Costs for $5,600.
• E) A debit to Common Shares for $5,600.

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Definitions:

Corporate

Pertaining to a corporation, a form of business organization characterized by the legal distinction between the company and its owners.

Strategic Marketing Decision

A choice made in marketing that is intended to contribute to long-term business success, often involving product development, market selection, and positioning.

STP Analysis

Segmentation, Targeting, and Positioning analysis is a marketing strategy that divides a broad market into distinct groups to tailor marketing efforts effectively.

Marketing Mix

The mix of elements a company can manage to encourage consumers to buy its products, which encompasses product, price, location, and marketing.