Which of the following statements is correct relating to common stock certificates of a publicly traded company that uses the services of a transfer agent?
A) Stock certificates should exist for all outstanding stock and be held by the owner of the stock.
B) Stock certificates should exist for all outstanding stock and be held either by the owner of the stock or a representative of the owner (e.g. ,brokerage firm) .
C) A lack of stock certificates is ordinarily considered a material weakness in internal control.
D) Stock certificates often are not issued in today's electronic environment.
Correct Answer:
Verified
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