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b. issued shares
c. unissued shares
d. outstanding shares
S34. Stock that has a fixed per-share amount printed on each stock
certificate is called
a. stated value stock.
b. fixed value stock.
c. uniform value stock.
d. par value stock.
S35. Which of the following is not a legal restriction related to
profit distributions by a corporation?
a. The amount distributed to owners must be in compliance with the
state laws governing corporations.
b. The amount distributed in any one year can never exceed the net
income reported for that year.
c. Profit distributions must be formally approved by the board of
directors.
d. Dividends must be in full agreement with the capital stock
contracts as to preferences and participation.
S36. In January 2012, Finley Corporation, a newly formed
company, issued 10,000 shares of its $10 par common stock for $15
per share. On July 1, 2012, Finley Corporation reacquired 1,000