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A Corporation Purchased 1,000 Shares of Its Own $5 Par

Question 1

Multiple Choice

A corporation purchased 1,000 shares of its own $5 par common stock at $10 and subsequently sold 500 of the shares at $20. What amount of revenue is realized from the sale?


A) $0
B) $5,000
C) $2,500
D) $10,000

Correct Answer:

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