All of the following are basic rights of a shareholder except: the right to receive a proportionate share of any assets remaining before the corporation pays its liabilities in the event of liquidation the right to receive a proportionate part of any dividend the right to vote the right to maintain one's proportionate ownership in the corporation Question 22 (1 point) Current liabilities are obligations due within: one month or within the company's normal operating cycle if it is shorter than one month one year or within the company's normal operating cycle if it is shorter than one year one month or within the company's normal operating cycle if it is longer than one month one year or within the company's normal operating cycle if it is longer than one year Question 23 (1 point) The journal entry to record accrued interest on a short-term note payable must include a debit to: interest payable note payable interest expense prepaid interest Question 24 (1 point) Short-term notes payable: are generally due within three months, with a maximum time period of six months are shown on the balance sheet after bonds payable Short-term notes payable: are generally due within three months, with a maximum time period of six months are shown on the balance sheet after bonds payable are shown as a reduction to notes receivable on the balance sheet, with an appropriate footnote disclosure are shown on the balance sheet with current liabilities Question 25 (1 point) An accrued expense is an expense incurred by the company but not yet paid in cash, True False Question 26 (1 point) Contributed capital as shown on a corporate balance sheet includes the share accounts and any contributed surplus as well as retained earnings. True False Question 27 (1 point) Share repurchases are events in which companies buy back their own shares from investors. Which statement below regarding a share repurchase is true? The company's management can vote at shareholders' meeting because the company owns its own shares Repurchasing shares make the remaining shareholders unhappy if the shares were repurchased below their market value Repurchasing shares make the remaining shareholders happy if the shares were repurchased below their market value A share repurchase grows a company's assets and equity