If no-par stock is issued without a stated value, then: The par value is automatically $1 per
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Question:
If no-par stock is issued without a stated value, then:
The par value is automatically $1 per share.
The entire proceeds are considered to be legal capital.
There is no legal capital.
The corporation is automatically in violation of its state charter.
Related Book For
Canadian Income Taxation planning and decision making
ISBN: 9781259094330
17th edition 2014-2015 version
Authors: Joan Kitunen, William Buckwold
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