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Problem P13 - 1 The following is a list of terms that you should become familiar with: Terms Authorized stock Paid-in-capital By-laws Par value stock
Problem P13 - 1
The following is a list of terms that you should become familiar with:
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Insert the appropriate term for each definition below:
- A document that creates a corporation.
- A business organized as a legal entity separate and distinct from its owners under state corporation laws.
- A corporation that may have thousands of stockholders and whose stock is regularly traded on a national securities exchange.
- A corporation that has only a few stockholders and whose stock is not available for sale to the general public.
- The maximum amount of shares of stock a company is allowed to sell as indicated in its charter.
- The costs incurred in the formation of a corporation.
- Number of shares that have been issued and is being held by stockholders.
- Total amount of cash and other assets paid in to the corporation by stockholders in exchange for capital stock.
- Cumulative profits and losses earned/lost since the corporation began operations.
- Capital stock that has been assigned a value per share in the corporate charter.
- The amount per share assigned by the board of directors to no-par stock that becomes legal capital per share.
- Capital stock that has not been assigned a value in the corporate charter.
- Capital stock that has some contractual preferences over common stock.
- The internal rules and procedures for conducting the affairs of the corporation.
- A corporations own stock that has been issued and reacquired by the corporation but not retired.
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