A Corporation Does Not Make a Journal Entry When

question 59

Multiple Choice

A corporation does not make a journal entry when:

• A)a shareholder exchanges the shares for cash with a different investor.
• B)shares are repurchased by the corporation at a price greater than their issue price.
• C)shares are repurchased by the corporation at a price less than their issue price.
• D)the corporation sells its treasury stock for cash to an investor.

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Definitions:

Omnivores

Organisms that consume both plant and animal matter for their nutritional needs.

Autotrophs

Organisms that produce their own food from inorganic substances, such as light or chemical energy, including plants and some bacteria.

Solar Energy

Energy from the sun that is converted into thermal or electrical energy.

Kilocalories

A unit of energy equal to 1,000 calories, commonly used to express the energy content of food.