Monroe Co. Declared and Distributed a Stock Dividend

question 13

Short Answer

Monroe Co. declared and distributed a stock dividend.

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Definitions:

Sole Proprietorships

A business structure where a single individual owns, manages, and is personally responsible for all aspects of the business.

Ratified Inadvertently

Approved or confirmed accidentally or without the full intention to do so.

Full Disclosure

The obligation to reveal all relevant details of a transaction.

Consideration

The value (such as money, services, or goods) that is exchanged between parties in a contract.