Shown Below Is Information Relating to the Shareholders' Equity of Reeve

question 63

Multiple Choice

Shown below is information relating to the shareholders' equity of Reeve Corporation as of December 31, 2009:
$\begin{array}{lr}8 \% \text { non-cumulative preference share, } \$ 100 \text { par } & \$ 600,000 \\\text { Ordinary shares, } \$ 10 \text { par, } 500,000 \text { shares authorized, } 120,000 \text { shares issued } & 1,200,000 \\\text { and outstanding } &\\\text { Share premium: ordinary share } & 600,000 \\\text { Retained earnings (Deficit) } & (60,000) \end{array}$



-Refer to the above data. How many preference shares are issued and outstanding?

• A) 75,000 shares.
• B) 6,000 shares.
• C) 60,000 shares.
• D) Some other amount.

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Definitions:

Sterilizing (Autoclave)

A process of killing all microorganisms, including spores, on tools or equipment by using high pressure and steam in a device known as an autoclave.

Boiling

The rapid vaporization of a liquid when it is heated to its boiling point.

Tachycardia

A heart condition presenting with rapid beating, exceeding the normal resting rate, especially highlighting its impact on health when persistent.

Bradycardia

A slower than normal heart rate, typically defined as fewer than 60 beats per minute in adults.