1. Match the description with the type of stock or stockholder.

Have the right to receive dividens first (common, preferred, common AND preferred)

may be cumulative or non-cumulative (common, preferred, common AND preferred)

may have a par value (common, preferred, common AND preferred)

listed first in the stockholders' equity section (common, preferred, common AND preferred)

may have dividends in arrears (common, preferred, common AND preferred)

dividends decrease assets & stockholders' equity (common, preferred, common AND preferred)

only receives dividends when the unpaid prior years' preferred dividenss and the current year dividends are paid (common, preferred, common AND preferred)

generally has the right to vote at stockholders' meeting (common, preferred, common AND preferred)

IFRS term is "share capital-ordinary" (common, preferred, common AND preferred)

2. If the incorporators of a corporation meet the requirements of the law in the articles of incorporation, the government issues a _______ or certificate of incorporation. (one word, seven letters)

3. A business organized as a legal entity created and approved under state law is a _______________. (eleven letters)

4. A corporation's distribution of assets or stock to its stockholders on a proportional basis is a _________. (eight letters)

5. When a corporation purchases its own stock and does not cancel that stock, it is called _________ stock. (answer is one word, eight letters)

6. Authorized shares are 1,000. Shares issued are 800; shares unissued are 200. Shares held in treasury are 100 . How many shares are outstanding?