When independent stock transfer agents are not employed and the corporation issues its own stock and maintains
Question:
a. Be defaced to prevent reissuance 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 reissuance.
d. Be defaced and sent to the secretary of state.
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
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a Correct Stock certificates should be defaced but ret...View the full answer
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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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