Light and Variable Winds-Which Caused Difficulties for Mariners in the Days

question 90

Multiple Choice

Light and variable winds-which caused difficulties for mariners in the days of sailing ships-occur under the

• A) subpolar low and equatorial low.
• B) subpolar low and subtropical high.
• C) equatorial low and subtropical high.
• D) equatorial low and subpolar low.

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Definitions:

Stated Value

A nominal value assigned to no-par shares by the issuing company, distinct from market value.

Par Value

The face value of a share of stock, as stated in the corporate charter, which may be unrelated to its market value.

No-Par Value Stock

Stock issued without a specified face value but which may have a stated value assigned by the company.

Stated Value

The value assigned to no-par-value stock by the board of directors of a company, which can then be used as the basis for accounting and legal purposes.