Corporation B had sales revenue last year of $20 million, operating expenses of $16 million, and net profit of $4 million. There are 2 million shares of stock oustanding. What is the par value of the company's stock?

Question

Quizplus · Accepted Answer

The par value of a company's stock is a nominal value assigned to the shares of stock and is determined at the time the stock is issued. It is not calculated from sales revenue, operating expenses, net profit, or the number of shares outstanding.

Corporation B Had Sales Revenue Last Year of $20 Million