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Which of the following occurs when the board of directors declares a 3-for-1 stock split on 20,000 outstanding shares of $25 par common stock? A.
Which of the following occurs when the board of directors declares a 3-for-1 stock split on 20,000 outstanding shares of $25 par common stock?
A. The par value of the stock remains the same
B The number of outstanding shares remains at $20,000
c. The par value of the stock increases to $50 per share
d. The number of outstanding shares increases to 60,000
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