After Buying 100 Shares of Common Stock in the It's

question 177

Multiple Choice

After buying 100 shares of common stock in the It's All Good Corporation for $20 per share, Popeye later sold the same shares for $25 per share. Popeye's capital gain on the total transaction is:

• A) $5.
• B) $50.
• C) $500.
• D) $2,500.

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Definitions:

Establishment Clause

One of two provisions in the First Amendment of the U.S. Constitution that protect citizens’ freedom of religion. It prohibits (i) the establishment of a national religion by Congress and (ii) the preference of one religion over another or of religion over nonreligious philosophies in general.

First Amendment

The part of the United States Constitution that protects freedoms of speech, religion, press, assembly, and petition.

Constitution

The system of fundamental principles according to which a nation, state, corporation, or the like, is governed.

Search Without A Warrant

A law enforcement action to search a person or property without possessing a court-issued warrant, permissible only under certain conditions.