Chicago Clock Corporation Issued a 3-For-2 Stock Split of Its

question 90

Multiple Choice

Chicago Clock Corporation issued a 3-for-2 stock split of its common stock,which had a par value of $100 before the split.What dollar amount of retained earnings should be transferred to the common stock account?

• A)Par value of $100 per share.
• B)Market value per share on the issue date.
• C)Half of the previous total amount in the common stock account.
• D)Retained earnings aren't transferred to the common stock account.

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Definitions:

Environmental Causes

Factors in an individual's surroundings that can influence their development, behavior, and health.

Socioeconomic Classes

Categories of people living together in a society who have a similar level of wealth, education, and occupational prestige.

Down Syndrome

A genetic disorder caused by the presence of an extra chromosome 21, characterized by physical growth delays, characteristic facial features, and varying degrees of intellectual disability.

Extra Chromosome

An additional chromosome in the genetic makeup of an individual, which can lead to developmental abnormalities or genetic disorders, such as Down syndrome.