How many of Levi's common shares were outstanding on 12/31/08?
A)14 million
B)9 million
C)5 million
D)None of these is correct.5 million shares were outstanding at this date (9 million were issued, and 4 million shares were in the treasury).

Question

Quizplus · Accepted Answer

According to the information given, 9 million shares were issued but 4 million shares were in the treasury, meaning they were not outstanding. Therefore, the number of outstanding shares is 5 million (9 million issued minus 4 million in treasury).

How Many of Levi's Common Shares Were Outstanding on 12/31/08