The Charter of a Corporation Provides for the Issuance of 100,000

question 36

Multiple Choice

The charter of a corporation provides for the issuance of 100,000 shares of common stock. Assume that 30,000 shares were originally issued and 5,000 were subsequently reacquired. What is the number of shares outstanding?

• A) 35,000
• B) 70,000
• C) 25,000
• D) 30,000

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Definitions:

Gait

Manner of walking.

Dorsiflexion

The act of bending the foot or toes upward, towards the shin, a movement integral to walking and various physical activities.

Automobile Pedal

Foot-operated controls in a vehicle used for accelerating, braking, or engaging the clutch.

Pronation

A movement of the forearm and hand that results in the palm facing downward or backward.