The Following Data Has Been Collected About Keller Company's Stockholders

question 71

Multiple Choice

The following data has been collected about Keller Company's stockholders' equity accounts:
$\begin{array}{ll}\text {Common stock \( \$ 10 \) par value 20,000 shares }&\$100,000\\\text {authorized and 10,000 shares issued, 9,000 shares outstanding}\\\text { Paid-in capital in excess of par value, common stock } & 50,000 \\\text { Retained earnings } & 25,000 \\\text { Treasury stock } & 11,500\end{array}$

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Assuming the treasury shares were all purchased at the same price,the cost per share of the treasury stock is:

• A) $1.15.
• B) $1.28.
• C) $11.50.
• D) $10.50.
• E) $10.00.

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Definitions:

Satisficing

A decision-making strategy that seeks an adequate solution rather than the optimal one, based on the practicality of attaining satisfactory results within limitations.

Ambiguity

Ambiguity involves situations or information that are unclear, uncertain, or open to more than one interpretation, often leading to confusion or misunderstanding.

Uncertainty

A condition characterized by a lack of sufficient knowledge, making it difficult to precisely define the current situation, predict a future event, or identify multiple potential outcomes.

Certainty

The state or quality of being free from doubt or reservations; a condition of being sure about something.