Details of this Paper





Question 1;The Official Document which Gives a State's Authorization to Form a Corporation is (are) called;A.;Charter;B.;Bylaws;C.;Permit;D.;Certificate to Operate;Question 2;The Fair Market Value of Land and/or Buildings Given as a Gift to Corporations by Communities as an Incentive to Locate in their Area is called _ _ _ by Accountants.;A.;Relocation Incentives;B.;Donated Capital;C.;A Freebie;D.;A Free Good;Question 3;Ed Rice has invested $40,000 in a privately held family corporation. If the Corporation Fails and Declares Bankruptcy, How much does Ed Rice stand to Lose?;A.;The $40,000 plus any personal assets the creditors demand.;B.;Up to his total investment of $40,000.;C.;Zero.;D.;Half of his investment, $20,000.;Question 4;Which of the following statements correctly describes the Transferability of Ownership Rights in a Corporation? A shareholder;A.;Must obtain the permission of the board of directors before selling their shares.;B.;Must obtain the permission of 3 other stockholders before their selling shares.;C.;Must transfer all of their shares if they decide to transfer ownership.;D.;May dispose of part or all or their shares whenever they wish.;Question 5;Which of the following is NOT an Advantage of the Corporate Form of Ownership?;A.;It has the ability to raise large sums of capital by selling stocks and bonds.;B.;It is less subject to regulations than proprietorships or partnerships.;C.;Its stockholders have limited liability if the corporation fails.;D.;It has a continuous life which is independent of that of the managers.;Question 6;Dividends are Declared Out Of;A.;Capital Stock.;B.;Retained Earnings.;C.;Paid in Capital in Excess of Par Value.;D.;Treasury Stock.;Question 7;Which of the following represents the Largest Number of Common Shares?;A.;Outstanding shares.;B.;Authorized shares.;C.;Issued shares.;D.;Treasury shares.;Question 8;1.;Treasury Stock is a(n);A.;Asset account.;B.;Contra Stockholder's Equity account.;C.;Contra Asset account.;D.;Retained Earnings account.;Question 9;Dividends in Arrears on Cumulative Preferred Stock;A.;Never have to be paid.;B.;Enable preferred stockholders to share equally in corporate earnings with the common stockholders.;C.;Must be paid before common stockholders receive a dividend.;D.;Should be recorded as a current liability until they are paid.;Question 10;The Correct Sequence of Dividend Dates is;A.;Announcement date ? Registration date ? Payout date.;B.;Record date ? Declaration date ? Payment date.;C.;Declaration date ? Record date ? Payment date.;D.;Record date ? Payment date ? Declaration date.;Question 11;T he Effect of a Declaration of a Cash Dividend by the Board of Directors is to:......... INCREASE................. DECREASE


Paper#80897 | Written in 18-Jul-2015

Price : $22