Refer to Lanier Tech

question 172

Multiple Choice

Refer to Lanier Tech. What is the number of the company's unissued shares of common stock at December 31, 2015?

• A)6,000
• B)8,000
• C)40,000
• D)42,000

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Definitions:

Public Market

A transparent and regulated marketplace where securities, commodities, and other financial instruments are traded.

Journal Entry

A record in accounting that represents a transaction where debit and credit balance totals are equal.

Cash/Short-Term Securities

Liquid assets that include currency on hand and demand deposits, as well as investments with maturities of three months or less at the time of acquisition.

Fair Values

The compensation received for relinquishing an asset or the expenditure to assign a liability in a neat transaction among market stakeholders at the time of determining value.