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Treasury stock is a contra stockholders' equity account.

A) True
B) False

Correct Answer

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Each of the following is correct regarding treasury stock except that it has been


A) issued.
B) fully paid for.
C) reacquired.
D) retired.

E) A) and C)
F) C) and D)

Correct Answer

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A 10% stock dividend will increase the number of shares outstanding but the book value per share will decrease.

A) True
B) False

Correct Answer

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The par value of common stock must always be equal to its market value on the date the stock is issued.

A) True
B) False

Correct Answer

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