A class of stock that does not have a par value,and can usually be issued at any price without creating a minimum legal capital deficiency,is called:
A)Convertible stock.
B)No-par stock.
C)Callable stock.
D)Noncumulative stock.
E)Discounted stock.

Question

Quizplus · Accepted Answer

No-par stock is a class of stock that does not have a par value and can usually be issued at any price without creating a minimum legal capital deficiency. This type of stock is becoming more common, as many states have now eliminated or reduced the minimum legal capital requirements.

A Class of Stock That Does Not Have a Par