If a company issues no-par stock

Select one:

a. The full proceeds from the sale of no-par stock is always considered total legal capital.

b. The entry upon issuance of no-par stock will never include the account, Paid-in Capital in Excess of ParCommon Stock.

c. If no-par stock is assigned a stated value by state law, the excess of the proceeds over stated value is equal to legal capital.

d. A stated value assigned to no-par stock is accounted for in the same way as par value assigned to stock.