Which of the Following Statements Regarding the Retirement of Stock

question 162

Multiple Choice

Which of the following statements regarding the retirement of stock is INCORRECT?

• A)Retiring stock decreases the corporation's outstanding stock.
• B)When retiring stock, the corporation removes the balances from all paid-in capital accounts related to the retired shares.
• C)Retirements of common stock occur more often than retirements of preferred stock.
• D)Retired stock cannot be reissued.

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Definitions:

Personal Fable

A concept in adolescent development where an individual believes that their thoughts, feelings, and experiences are unique and not understood by others.

Hypothetical-Deductive Reasoning

Piaget’s formal operational concept that adolescents have the cognitive ability to develop hypotheses about ways to solve problems and can systematically deduce which is the best path to follow in solving the problem.

Formal Operations

The stage in Piaget's theory of cognitive development where abstract and logical thinking is developed, usually during adolescence.

Formal-Operational Thought

A stage in Piaget’s theory of cognitive development where individuals gain the ability to think abstractly and logically.