The date that the board takes on the liability for paying dividends is the _____________ date.

record

authorization

declaration

payment

The charter of a corporation provides for the issuance of 100,000 shares of common stock. Assume that 60,000 shares were originally issued and 20,000 were subsequently reacquired. What is the number of shares outstanding?

40,000

70,000

50,000

60,000

What is the total stockholders' equity based on the following account balances?

Common Stock	$450,000
Paid-In Capital in Excess of Par	180,000
Retained Earnings	190,000
Treasury Stock	100,000

$730,000

$720,000

$640,000

$840,000