If a corporation declares a 2-for-1 stock split, which of the following is true?
A) A new class of stock must be authorized with twice the number of issued shares.
B) The number of outstanding shares is half the number that were previously outstanding before the split.
C) The number of outstanding shares is twice the number that were previously outstanding before the split.
D) The number of outstanding shares is doubled, while the number of issued shares is reduced to half of the amount before the split.
Correct Answer:
Verified
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