Bookmark

Dividends are declared out of

		Capital Stock.
		Paid-in Capital in Excess of Par Value.
		Retained Earnings.
		Treasury Stock.

1 points

QUESTION 2

The Paid-in capital section of stockholder's equity includes

		common stock.
		preferred stock.
		paid in capital in excess of par value.
		all of the above.

1 points

QUESTION 3

Which of the following statements is considered an advantage of the corporate form of organization?

		Additional taxes
		Government regulations
		Limited liability of stockholders
		Separation of ownership and management

1 points

QUESTION 4

Stockholders of a corporation directly elect

		the president of the corporation.
		the board of directors.
		the treasurer of the corporation.
		all of the employees of the corporation.

1 points

QUESTION 5

Retained earnings

		is unique to the corporate form of business.
		has net income or loss closed to it similar to the capital account of a sole proprietor.
		does not include the owner(s) capital contributions whereas the sole proprietor or partners capital account does.
		dividends are paid from this account similar to how withdraws are deducted from the sole proprietors capital account.
		all of the above are true regarding the retained earnings account.

1 points

QUESTION 6

Treasury stock should be reported in the financial statements of a corporation as a(n)

		investment.
		liability.
		deduction from total paid-in capital.
		deduction from total paid-in capital and retained earnings.

1 points

QUESTION 7

Capital stock to which the charter has assigned a value per share is called

		par value stock.
		no-par value stock.
		stated value stock.
		assigned value stock.

1 points

QUESTION 8

If a corporation has only one class of stock, it is referred to as

		classless stock.
		preferred stock.
		solitary stock.
		common stock.

1 points

QUESTION 9

If common stock is issued for an amount greater than par value, the excess should be credited to

		Cash.
		Retained Earnings.
		Paid-in Capital in Excess of Par.
		Legal Capital.

1 points

QUESTION 10

The two ways that a corporation can be classified by ownership are

		publicly held and privately held.
		stock and non-stock.
		inside and outside.
		majority and minority.

0.5 points

QUESTION 11

The two ways that a corporation can be classified by purpose are

		general and limited.
		profit and not-for-profit.
		state and federal.
		publicly held and privately held.

0.5 points

Bookmark

Dividends are declared out of

		Capital Stock.
		Paid-in Capital in Excess of Par Value.
		Retained Earnings.
		Treasury Stock.

1 points

QUESTION 2

The Paid-in capital section of stockholder's equity includes

		common stock.
		preferred stock.
		paid in capital in excess of par value.
		all of the above.

1 points

QUESTION 3

Which of the following statements is considered an advantage of the corporate form of organization?

		Additional taxes
		Government regulations
		Limited liability of stockholders
		Separation of ownership and management

1 points

QUESTION 4

Stockholders of a corporation directly elect

		the president of the corporation.
		the board of directors.
		the treasurer of the corporation.
		all of the employees of the corporation.

1 points

QUESTION 5

Retained earnings

		is unique to the corporate form of business.
		has net income or loss closed to it similar to the capital account of a sole proprietor.
		does not include the owner(s) capital contributions whereas the sole proprietor or partners capital account does.
		dividends are paid from this account similar to how withdraws are deducted from the sole proprietors capital account.
		all of the above are true regarding the retained earnings account.

1 points

QUESTION 6

Treasury stock should be reported in the financial statements of a corporation as a(n)

		investment.
		liability.
		deduction from total paid-in capital.
		deduction from total paid-in capital and retained earnings.

1 points

QUESTION 7

Capital stock to which the charter has assigned a value per share is called

		par value stock.
		no-par value stock.
		stated value stock.
		assigned value stock.

1 points

QUESTION 8

If a corporation has only one class of stock, it is referred to as

		classless stock.
		preferred stock.
		solitary stock.
		common stock.

1 points

QUESTION 9

If common stock is issued for an amount greater than par value, the excess should be credited to

		Cash.
		Retained Earnings.
		Paid-in Capital in Excess of Par.
		Legal Capital.

1 points

QUESTION 10

The two ways that a corporation can be classified by ownership are

		publicly held and privately held.
		stock and non-stock.
		inside and outside.
		majority and minority.

0.5 points

QUESTION 11

The two ways that a corporation can be classified by purpose are

		general and limited.
		profit and not-for-profit.
		state and federal.
		publicly held and privately held.

0.5 points