Which of the following statements best describes the term "par value"?
A. The number of shares currently in the hands of stockholders
B. Determined by dividing total stockholder's equity by the number of shares of stock
C. An amount used in determining a corporation's legal capital
D. The amount that must be paid to purchase a share of stock
Answer: C
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Which of the following accounts is increased with a debit?
a. Common Stock b. Rent Payable c. Legal Fees Earned d. Dividends
The historical approach to job design that shows the value of using teams in most modern organizations is called:
a. Scientific management b. Sociotechnical systems theory c. Hawthorne effect d. Total quality management e. Quality of work life theory
Which of the following is NOT an error in data gathering?
a. Using samples that are too small b. Administering the survey to a small group of the population before conducting the actual survey c. Gathering too much information and then attempting to use all of it d. All of the above are errors.
Vertical integration, whether forward or backward, requires the firm to become more specialized
Indicate whether the statement is true or false