Mitchell Company Was Authorized to Issue 50,000 Shares of Common

question 77

Multiple Choice

Mitchell Company was authorized to issue 50,000 shares of common stock. The company issued 27,000 shares of stock and later purchased 5,000 shares of treasury stock. The number of outstanding shares of common stock is:

• A) 45,000.
• B) 28,000.
• C) 22,000.
• D) 17,000.

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Definitions:

Heterozygous

Having two different alleles for a specific gene, one inherited from each parent.

Dominant

Relating to a trait that is expressed in an organism's phenotype, even when only one copy of the gene for that trait is present.

Genotype

The genotype is the genetic makeup of an organism, comprising all the DNA sequences that determine its inherited traits.

Yellow Seed

Refers to seeds that exhibit a yellow coloration, which can be a specific trait of interest in genetic studies or agriculture.