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| Ascot Corporation has 4 million shares of common stock authorized, 2.4 million shares of common stock issued, and 1.8 million shares of common stock outstanding. How many shares of treasury stock does Ascot own and is the treasury stock reported as an asset in Ascot’s balance sheet? Treasury shares Reported as an asset A)600,000 Yes B)1.6 million No C)600,000 No |
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