Table 14-3
Following Is the Shareholders' Equity Section of the Balance

question 110

Multiple Choice

Table 14-3
Following is the shareholders' equity section of the balance sheet of Monty Corporation:
$$\begin{array} { | l| r | } \hline \text { Contributed capital: } & \\\hline \text { Preferred shares, } \$ 2.50 \text {, cumulative, } 35,000 \text { shares } & \\\hline \text { authorized, } 7,000 \text { shares issued } & \$ 350,000 \\\hline \text { Common shares, } 140,000 \text { shares authorized, } & \\\hline 50,000 \text { shares issued } & 452,500 \\\hline\\\hline \text { Total contributed capital } & 802,500 \\\hline \text { Retained earnings } & 204,500 \\\hline \text { Total shareholders' equity } & \$ 1,007,000 \\\hline\end{array}$$
-The sale of a corporation's repurchased shares:

• A) will increase liabilities
• B) will increase total shareholders' equity
• C) will decrease assets
• D) will have no effect on the balance sheet

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Definitions:

Organizational Citizenship Behaviour

Discretionary behaviors exhibited by employees that are beneficial to the organization and are not necessarily recognized by formal reward systems.

Formally Assigned Responsibilities

Duties or tasks that are officially allocated to an individual or a group within an organizational setting.

Training Program

A structured educational process that aims to enhance the knowledge, skills, and competencies of individuals to perform specific tasks or jobs.

Divorce

A legal dissolution of a marriage by a court or other competent body.