Which of the Following Terms Designates the Maximum Number of Shares

question 22

Multiple Choice

Which of the following terms designates the maximum number of shares of stock that a corporation may issue?

• A)Number of shares issued
• B)Number of shares authorized
• C)Par value
• D)Number of shares outstanding

Understand the concept of the operating cycle and its importance to a company’s cash flow.

Differentiate between various types of liabilities and their classification on a balance sheet.

Identify and differentiate between the major classifications of assets in a balance sheet.

Understand the ethical considerations related to accounting practices and policies.

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Definitions:

Boundary Spanning

Activities undertaken by individuals or organizations to interact with and influence external stakeholders and environments.

Contingency

An uncertain event or condition that, if it occurs, may have a positive or negative impact on a project's objectives.

Intuitive

Relating to or based on a direct and spontaneous understanding or perception of things, without the need for conscious reasoning.

Synergistic

Refers to the interaction or cooperation of two or more organizations, substances, or other agents to produce a combined effect greater than the sum of their separate effects.