What is the source of the par value requirement for COMMON stock
in the United States?
That is:
When did it begin?
Why was it a legal requirement (whom did it ?protect?)?
Who (what individual/group/Congress/state, etc.) instigated par value?
How? Was this a regulation, law, etc.
[What you are searching for is information about COMMON stock quoting
requirements at par value on the balance sheet of publicly traded
firms in the U.S. (There is, of course, still a need for par value
for both bonds and preferred stock.) Although par value of common
stock is no longer required, many firms still state common stock at
par value on the balance sheet.]
Please answer this question fully and please provide references if
possible. I need an answer by 9 am Thursday 10-28, mountain time.
Please don't lock if you cannot provide an answer by this time. |