All of the following statements are true about a 3-for-1 split, except:
a. Total contributed capital increases.
b. The market price will probably decrease.
c. Par value per share is reduced to one-third of what it was before the split.
d. A stockholder with twenty shares before the split owns sixty shares after the split.
a
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Which of the following statements is true of the National Consumer Arbitration Program?
A) The arbitrator can award punitive damages. B) It can only hear cases that have been dismissed from court. C) Arbitration through this program is more expensive than a lawsuit in court. D) Arbitrators cannot award damages beyond the value of the product in question.
If a General Fund purchases capital assets with cash, what effect will this transaction have on the assets and fund balance, respectively, of the fund?
A. Neither assets nor fund balance will change (the increase in capital assets will offset the decrease in cash). B. Both assets and fund balance will increase. C. Both assets and fund balance will decrease. D. No effect since the purchase is recorded only in the General Capital Assets account.