When independent stock transfer agents are not employed and the corporation issues its own stock and maintains
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Question:
When independent stock transfer agents are not employed and the corporation issues its own stock and maintains stock records: canceled stock certificates should.
a. Be defaced to prevent re-issuance and attached to their corresponding stubs.
b. Not be defaced but be segregated from other stock certificates and retained in a canceled certificates file.
c. Be destroyed to prevent fraudulent re issuance.
d. Be defaced and sent to the secretary of state.
Related Book For
Auditing and Assurance Services
ISBN: 978-0077862343
6th edition
Authors: Timothy Louwers, Robert Ramsay, David Sinason, Jerry Straws
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