7. Par value is: a an arbitrary value b. based on the market price c. the same as the stated value d. preemptive right 8. a. Paid-in-Capital in Excess of Par is calculated as: number of shares times the market price b. number of shares times the difference between the market price and the par value number of shares times the par value d. the number of shares times the discount on the stock c. b. Shares outstanding is: the number of shares issued by the corporation and still in the possession of the shareholders the number of shares affected by the organization costs the number of shares allowed by the corporate charter the number of shares issued by the corporation d. 10. a When stock is issued under a stock subscription plan: paid in capital in excess of par does not exist b. stock is recorded only at the par value common stock is credited d. common stock subscribed is the account used until the cash is received c