Standard Corp

question 193

Multiple Choice

Standard Corp.repurchased 1,000 shares of its $1 par value common stock on the market when it was trading for $16 per share.How would the company record this transaction?

• A)Debit Treasury Stock for $1,000 and credit Cash for $1,000.
• B)Debit Treasury Stock,Common for $1,000 and credit Cash for $1,000.
• C)Debit Treasury Stock,$1 Par Value for $16,000 and credit 16 for $16,000.
• D)Debit Treasury Stock,Common for $16,000 and credit Cash for $16,000.
• E)Debit Retained Earnings for $16,000 and credit Treasury Stock,Common for $16,000.

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Definitions:

Candidiasis

A fungal infection caused by yeasts of the genus Candida, often affecting the skin, mouth, and genital area, known as a yeast infection.

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Sexual partners who have sex only with each other.

Sexually Transmitted Infections

Illnesses that spread chiefly through sexual relations, which can be caused by a range of pathogens including bacteria, viruses, and parasites.

Vaccinated

The process of receiving a vaccine to stimulate the body's immune response against specific diseases.