Book value per share of common stock of a manufacturing company: Multiple Choice reflects the fair value of the company's stock. is the same as the total balance sheet asset value per share of common stock. is calculated by dividing market value per share by earnings per share. is not a very useful measure most of the time.

Teatro restoration, inc., begins renovating an old theater for urban edge productions, but after three months teatro demands an extra $250,000. urban edge agrees to pay. refer to fact pattern 13–4. if teatro says it is asking for the extra $250,000 because it has encountered extraordinary unforeseen difficulties that will add considerable cost to the project, the agreement is