True & False (20 Points) 1. When Corporation decides to issue cash dividends, the date of record is the date the corporation uses to determine which stockholders will receive the dividend. No accounting journal entry is needed on this date. 2. Generally, preferred shareholders have first rights to any dividends, thus, they have a greater chance of receiving dividends than common stockholders. 3. The stockholders control a corporation by electing a board of directors. 4. Cash flows from investing activities, as part of the statement of cash flows, would include any receipts from issuing the stocks. 5. There are two alternatives methods to reporting cash flows from operating activities in the statement of cash flows: (1) the direct method and (2) the indirect method. 6. One of big advantage for Corporation as business entity is double taxation. 7. In a common-sized statement, all items are expressed as percentages, with no dollar amounts shown. 8. Treasury stock is stock that a corporation has issued and then reacquired. 9. The ending cash on the statement of cash flows equals the cash reported on the companys balance sheet at the beginning of the year. 10. Organizational expenses are classified as intangible assets on the balance sheet.