Which of the Following Occurs When the Board of Directors

Multiple Choice

Which of the following occurs when the board of directors declares a 3-for-1 stock split on 10,000 outstanding shares of $15 par common stock?

A) The par value of the stock remains the same.
B) The par value of the stock increases to $30 per share.
C) The number of outstanding shares remains at 10,000.
D) The number of outstanding shares increases to 30,000.