Walton Corporation shows the following in the stockholders' equity section of its balance sheet: The stated value of its common stock is $0.50 and the total balance in the common stock account is $37,500 . Also noted is that 5,000 shares are currently designated as treasury stock. The number of shares outstanding is
a. 80,000.
b. 75,000.
c. 72,500.
d. 70,000.
d
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Which statement BEST describes the production of a team's report?
a. All writers should participate in producing the final report. b. Individuals should turn over their drafts to be worked into the final report. c. In the near-final draft, each team member edits the report section he or she wrote. d. Readers of the report should be able to discern each report writer's style.
The Solomans own a cabin on the south side of Mount Henry. The Solomans told Bennie and Claudia they could live in the cabin and use it as they wished until the Solomans wanted to use it again. Twelve years later, the Solomans informed Bennie and Claudia that they were going to spend the summer at the cabin and that Bennie and Claudia would have to make other arrangements for the summer. Bennie and Claudia claimed that they had acquired title by adverse possession, because they had occupied the property for the period of time required for adverse possession under state law (10 years in that state). Are Bennie and Claudia correct?
A. Yes, Bennie and Claudia were living on the property with exclusive, open possession for a continuous period of time for the required 10 years. B. Yes, Bennie and Claudia had the Solomans' permission, therefore the possession was not illegal. C. No, Bennie and Claudia's possession was with the Solomans' permission, and therefore the claim was not adverse to the Solomans. D. No, there was no warranty deed transferred to Bennie and Claudia.