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Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
ISBN: 9781337690881

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BuyFindarrow_forward

Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
ISBN: 9781337690881
Textbook Problem
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Which of the following statements is true?

  1. The outstanding number of shares is the maximum number of shares that can be issued by a corporation.
  2. The shares that are in the hands of the stockholders are said to be outstanding.
  3. It is very unlikely that corporations will have more than one class of stock outstanding.
  4. Preferred stock is stock that has been retired.

To determine

Concept introduction:

Stockholder’s Equity:

Stockholders Equity includes the paid up amount of all stocks (Common as well as preferred) issued and retained earnings balance. It represents the amount owed to the stockholders by the company. Stockholders Equity is the section of balance sheet’s equity part.

To choose:

The true statement.

Explanation

Explanation for correct answer:

Outstanding shares are the shares which are issued and outstanding in the hands of the shareholders. Hence the correct option is b.

Explanation for incorrect answers:

a...

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