Please Refer to the Following Information for Petra Sales Company

question 82

True/False

Please refer to the following information for Petra Sales Company:
• Common stock, $1.00 par, 200,000 issued, 180,000 outstanding
• Paid-in capital in excess of par: $1,600,000
• Retained earnings: $2,440,000
• Treasury stock: 20,000 shares purchased at $12 per share
-
If Petra Sales sells 10,000 shares of treasury stock at $14 per share, the number of shares outstanding will go down by 10,000.

---

Definitions:

Competence

The ability to perform work tasks successfully.

Potential

The inherent ability or capacity of an individual, object, or concept to develop into something more substantial or perform at a higher level in the future.

Coercive Power

A form of power that is based on the ability to deliver punishments or impose penalties for noncompliance.

Social Intelligence

The ability to understand and manage interpersonal relationships effectively, including the capacity to navigate social environments and understand the dynamics at play.