Acc 202

1. Which of the following does not accurately describe Total Stockholders Equity?
   1. Represents the portion of business assets not claimed by creditors
   2. Represents the value of ownership for stockholders
   3. Includes common stock and retained earnings
   4. Represents how much capital has been generated through issuance of stock
2. All of the following accurately describe retained earnings except
   1. The portion of total equity that is earned through profitable operations
   2. The accumulation of undistributed net income
   3. The portion of equity that is generated through issuing stock
   4. The portion of equity from which dividends are distributed/paid
3. All of the following accurately describe the common stock account except.
   1. Is the source for distribution and payment of dividends
   2. Represents the portion of equity generated through issuance of stock
   3. Is a contributed form of capital
   4. Is added to Retained Earnings to determine Total Stockholders Equity
4. Which of the following statements about outstanding stock is not true?
   1. Represents shares held by stockholders
   2. Includes treasury stock
   3. Represents 100% ownership in corporate capital
   4. Is the different between total shares issued less any shares in treasury stock
5. All of the following accurately describe common stock except:
   1. Carries a fixed dividend rate
   2. Carries voting rights
   3. Represents ownership in corporate capital
   4. Is not typically issued at par value