Multiple Choice
A corporation purchases 20,000 shares of its own $20 par ordinary shares for $35 per share, recording it at cost. What will be the effect on total equity?
A) Increase by $700,000
B) Decrease by $400,000
C) Decrease by $700,000
D) Increase by $400,000
Correct Answer:
Verified
Correct Answer:
Verified
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