Which of the following statements about the par value of common stock is not correct?
A)The par value is not the same as the market value of the stock.
B)The par value is a nominal amount identified in the corporate charter.
C)The par value is the amount credited to the common stock account when the stock is issued.
D)The par value is the amount credited to common stock when treasury stock is reissued.

Question

Quizplus · Accepted Answer

The entry to record a stock repurchase includes a debit to Treasury Stock and a credit to Cash for the amount paid to repurchase the company's stock.

Which of the Following Statements About the Par Value of Common