Question 25 (1 point)

Outstanding share equals issued minus treasury shares

Question 25 options:

	True
	False

Question 26 (1 point)

The owner who has 200 shares in the corporation has more rights than those holding 50 shares only.

Question 26 options:

	True
	False

Question 27 (1 point)

Only dividend payable maybe credited during date of declaration.

Question 27 options:

	True
	False

Question 28 (1 point)

Retained earnings are presented in the stockholders' equity as part of paid in capital.

Question 28 options:

	True
	False

Question 29 (1 point)

During pre-operating stage, stockholders's equity is equal to total paid in capital.

Question 29 options:

	True
	False

Question 30 (1 point)

On June 1- An investor bought & paid 10 shares, therefore he will be given 10 stock certificates by the corporation.

Question 30 options:

	True
	False

Question 31 (1 point)

Preference stocks may receive more that 1 year dividend.

Question 31 options:

	True
	False

Question 32 (2 points)

Takecare, corp. declared 10% cash dividend on Feb 10, 2015, payable on Feb 14, 2015,to the stockholders on record as of Dec. 31, 2014. Savey is a stockholder with 100 shares at P50 par on Dec 31, 2014 but bought another 100 shares on Jan 15. HOW MUCH dividend Savey will receive on FEb 14, 2015?

Question 32 options:

	P500
	P1000
	P10,000
	P0

Question 33 (2 points)

Takecare, corp. declared 10% cash dividend on Feb 10, 2015, payable on Feb 14, 2015,to the stockholders on record as of Dec. 31, 2014. The date/s the business should make entries are,

Question 33 options:

	Feb 10 & Feb 14, 2015
	Feb 10, 2015 & Dec 31, 2014
	Feb 14, 2015 & Dec 31, 2014
	Dec 31, 2014 only

Question 34 (2 points)

The corporation was authorized to issue 10,000 ordinary shares. Total issued during the year was 6,000 shares including treasury stocks of 500 shares. How many shares are entitled to receive dividend?

Question 34 options:

	5,500 shares
	10,000 shares
	6,000 shares
	9,500 shares

Question 35 (2 points)

The corporation is applying for 100,000 shares at P50 par. Which among the given will satisfy SEC requirements?

Question 35 options:

	4 owners, subscription of 26,000 shares & payment of P350,000
	6 owners, subscription of 20,000 shares & payment of P350,000
	18 owners, subscription of 25,100 shares & payment of P315,000
	5 owners, subscription of 100,000 shares & payment of P315,000

Question 36 (2 points)

The corporation received Land costing P80,000 with appraised value of 150% of its original cost for 1,000 preference shares with P100 par value.

What is credited together with preference share capital?

Question 36 options:

	Land P120,000
	Share premium P20,000
	Subscription receivable P40,000
	Subscribed share capital P100,000