) Stock "Par value" is an arbitrary amount assigned to each share of a given class of stock and printed on the stock certificate.

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(T / F) "Capital stock authorized" is the maximum number of shares of stock that a corporation can issue as designated in its charter.

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(T / F) "Capital stock issued" is the number of shares of stock that have been sold and issued to stockholders. Capital stock issued includes any Treasury Stock.

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(T / F) "Capital stock outstanding" is the number of authorized shares of stock that have been issued and that are still currently held by stockholders. Capital stock outstanding excludes any Treasury Stock.

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(T / F) The return on average common stockholders' equity equals net income available to common stockholders divided by average common stockholders' equity.

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(T / F) Paid-in capital is presented in the stockholders' equity section of the balance sheet. Each source of paid-in capital is listed separately.

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(T / F) Extraordinary items are both usual and interesting in nature. Extraordinary items appear on the income statement (net-of-tax effect) as part of "Income from continuing operations".

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(T / F) Income available to common stockholders is net income plus any dividends on preferred stock.

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(T / F) The retained earnings balance of a corporation is part of its paid-in capital.

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(T / F) The purchase of treasury stock does not affect stockholders' equity.

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