A Company's Board of Directors Votes to Declare a Total

question 134

Multiple Choice

A company's board of directors votes to declare a total cash dividend of $25,000.The company has 2,500 shares of $1 par common stock and 400 shares of 4%,$200 par preferred stock outstanding.What is the total amount that will be paid to preferred shareholders?

• A)$1,000
• B)$22,500
• C)$400
• D)$3,200
• E)$25,000

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Definitions:

Thematic Apperception Test

A projective psychological test that involves creating stories about ambiguous scenes to uncover underlying thoughts and feelings.

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A trait characterized by giving up easily or not continuing in an activity or endeavor despite potential obstacles or challenges.

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A psychological characteristic where an individual has little motivation or desire to achieve success or excel in tasks.

Achievement Motivation

The drive or desire to accomplish goals or meet high standards of performance.