The Following Information Is from the December 31,2018 Balance Sheet

question 141

Multiple Choice

The following information is from the December 31,2018 balance sheet of May Corporation. $$\begin{array} { | l | r | } \hline \text { Preferred Stock, } \$ 100 \text { par } & \$ 390,000 \\\hline \text { Paid-In Capital in Excess of Par-Preferred } & 25,000 \\\hline \text { Common Stock, } \$ 1 \text { par } & 152,000 \\\hline \text { Paid-In Capital in Excess of Par-Common } & 346,000 \\\hline \text { Retained Earnings } & \$ 3,900 \\\hline \text { Total Stockholders' Equity } & \$ 996,900 \\\hline\end{array}$$ What was the total paid-in capital as of December 31,2018?

• A) $736,000
• B) $996,900
• C) $913,000
• D) $888,000

Understand the concept of strict liability and its exceptions.

Recognize the importance of warnings and information disclosure in avoiding negligence claims.

Understand the concept of superseding cause and how it affects liability.

Grasp the principles of comparative and contributory negligence.

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Definitions:

Normative

Relating to an ideal standard or model, or being based on what is considered to be the normal or correct way of doing something.

Perceptual

Relating to the ability to interpret or become aware of something through the senses.

Disruptive

Causing or tending to cause disruption; interrupting the normal course or unity of something, often leading to innovation or change.

Social Facilitation

The tendency for people to perform differently when in the presence of others than when alone, typically showing improved performance on simple tasks.