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Auditing & Assurance Services 6th Edition by Timothy Louwers
Edition 6ISBN: 978-0077862343Auditing & Assurance Services 6th Edition by Timothy Louwers
Edition 6ISBN: 978-0077862343 Exercise 56
When independent stock transfer agents are not employed and the corporation issues its own stock and maintains stock records, canceled stock certificates should
A) Be defaced to prevent reissuance and attached to their corresponding stubs.
B) Not be defaced but be segregated from other stock certificates and retained in a canceled certificates file.
C) Be destroyed to prevent fraudulent reissuance.
D) Be defaced and sent to the secretary of state.
A) Be defaced to prevent reissuance and attached to their corresponding stubs.
B) Not be defaced but be segregated from other stock certificates and retained in a canceled certificates file.
C) Be destroyed to prevent fraudulent reissuance.
D) Be defaced and sent to the secretary of state.
Explanation
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The correct Answer is a.When independent...
Auditing & Assurance Services 6th Edition by Timothy Louwers
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