Differences in ASPE and the Income Tax Act result in

Select one:

a. No differences in tax calculations

b. None of the available choices

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

Which of the following are features of preferred shares? i Owners of preferred shares have preferential claim on assets over owners of common shares. ii Owners of preferred shares have no say in the corporations broad direction. iii At liquidation, owners of preferred shares rank after bondholders and other shareholders. iv - Owners of preferred shares can vote on corporate policy.

Select one:

a. i and iii only

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

c. ii, iii, and iv only

d. i and ii only

Which of the following statement(s) is/are correct regarding shareholders equity?

Select one:

a. All of the available choices

b. Shareholders equity is comprised of contributed capital and retained earnings.

c. Contributed capital is generally comprised of share capital and contributed surplus.

d. In a corporation, owners equity is called shareholders equity

Which of the following is a feature of common share?

Select one:

a. Owners have right to receive dividends only if declared by directors

b. Owners get paid a regular dividend

c. Owners get fewer voting rights than preferred shareholders

d. Owners have preferential claim on assets

When a company issues a stock dividend, its cash will be:

Select one:

a. Decreased

b. Increased

c. Increased or decreased depending on the shares price on the issuance date

d. Unaffected

Which of the following best describes characteristics of a corporation?

Select one:

a. The separation of ownership and management

b. The separation of assets and liabilities

c. None of the available choices

d. Unlimited liability for owners

Why might a company choose to issue a stock dividend instead of a cash dividend?

Select one:

a. To retain its cash

b. All of the available choices.

c. To satisfy investors with a dividend without using cash

d. To keep the share price affordable for new investors

To which reporting standards must private corporations in the Canada adhere?

Select one:

a. They have a choice of using IFRS or ASPE

b. IFRS

c. ASPE

d. They do not need to adhere to any financial reporting standards.

Which of the following would not affect retained earnings?

Select one:

a. Conversion of preference shares into ordinary shares

b. Stock dividend

c. Net income

d. Share split

Which of the following happens to the issuing companys books as a result of dividend declaration?

Select one:

a. Decrease in revenue

b. Increase in expenses

c. Decrease in equity

d. Increase in assets

Please i really need help