ABC Corporation Has Assets That Total $12 Million and Liabilities

question 123

Multiple Choice

ABC Corporation has assets that total $12 million and liabilities that total $4 million.It also has 500,000 shares of stock outstanding.What is the ABC's book value per share?

• A)$32
• B)$24
• C)$16
• D)$8
• E)$0

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Definitions:

Professional Misconduct

Refers to inappropriate or unethical behavior by a professional in their occupation, often leading to disciplinary action.

Accountant

A professional who performs accounting functions such as audits or financial statement analysis.

Privity

A relationship between two parties that is recognized by law, such as a contractual relationship.

Contractual Relation

The connection between parties that is established by the terms and conditions of a contract.