Ready Equipment, Inc

question 47

True/False

Ready Equipment, Inc. authorized and specified in its charter 5,000 shares of stock to be issued. If it later needs to issue stock in excess of 5,000 shares, the charter will have to be amended.

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Definitions:

Longshore Current

A current, generally in an ocean or large lake, flowing more or less parallel to a coastline.

Prevailing Wind

The most common or frequent wind direction in a particular place, influenced by global patterns or local topography.

Shoreline Sand

Sand found along the edge of a sea, lake, or river, commonly composed of finely divided rocks and mineral particles.

Low Tide

The state of the tide when it is at its lowest level, resulting in the minimal reach of seawater on the shore.