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If no-par stock is issued without a stated value, then there is no legal capital. the corporation is automatically in violation of its state charter.
If no-par stock is issued without a stated value, then there is no legal capital. the corporation is automatically in violation of its state charter. the entire proceeds are recorded in the Common Stock account. the par value is automatically $1 per share
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Acca Financial Reporting
Authors: BPP Learning Media
1st Edition
1509784888, 978-1509784882
