2) It is determined by the amount that investors are willing to pay for them. This means that the shares may be sold at a higher or lower price than what the original holder paid for them.

Select one:

a. Market Value

b. Salvage Value

c. Present Value

d. Original Cost

3) What information is typically included in the shareholders equity of a public corporations balance sheet? i - Number of shares authorized ii - Number of shares issued iii - Number of shares outstanding iv Number of shares held by each shareholder

Select one:

a. i and iv only

b. i, ii, and iii only

c. all of i, ii, iii, and iv

d. i and ii only

4) The account income summary is a:

Select one:

a. Capital account

b. Nominal account

c. Real account

d. Mixed account

5) Differences in ASPE and the Income Tax Act result in

Select one:

a. None of the available choices

b. No differences in tax calculations

c. Minor differences in income tax that can be ignored

d. Different amounts of tax being calculated by corporations based on which income figures are used