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A corporation is not an entity that is separate and distinct from its owners.

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A corporation is not an entity that is separate and distinct from its owners.

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Question 2

1 out of 1 points

 

 

 

A stockholder has the right to vote in the election of the board of directors.

Answer

Question 3

1 out of 1 points

 

 

 

The acquisition of treasury stock by a corporation increases total assets and total stockholders’ equity.

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Question 4

1 out of 1 points

 

 

 

Cash dividends are not a liability of the corporation until they are declared by the board of directors.

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Question 5

1 out of 1 points

 

 

 

A detailed stockholders’ equity section in the balance sheet will list the names of individuals who are eligible to receive dividends on the date of record.

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Question 6

1 out of 1 points

 

 

 

Under the corporate form of business organization

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Question 7

1 out of 1 points

 

 

 

Which of the following statements reflects the transferability of ownership rights in a corporation?

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Question 8

1 out of 1 points

 

 

 

If a stockholder cannot attend a stockholders’ meeting, he may delegate his voting rights by means of a(n)

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Question 9

1 out of 1 points

 

 

 

If Norben Company issues 4,000 shares of $5 par value common stock for $140,000, the account

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Question 10

1 out of 1 points

 

 

 

Holden Packaging Corporation began business in 2014 by issuing 80,000 shares of $5 par common stock for $8 per share and 20,000 shares of 6%, $10 par preferred stock for par. At year end, the common stock had a market value of $10. On its December 31, 2014 balance sheet, Holden Packaging would report

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Question 11

0 out of 1 points

 

 

 

The following data is available for BOX Corporation at December 31, 2014:
Common stock, par $10 (authorized 30,000 shares)            $250,000
Treasury stock (at cost $15 per share)       $    1,200
Based on the data, how many shares of common stock are issued?

Answer

Question 12

1 out of 1 points

 

 

 

Which of the following is not a right or preference associated with preferred stock?

Answer

Question 13

1 out of 1 points

 

 

 

All of the following statements about preferred stock are true except

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Question 14

1 out of 1 points

 

 

 

The board of directors of Benson Company declared a cash dividend of $1.50 per share on 42,000 shares of common stock on July 15, 2014. The dividend is to be paid on August 15, 2014, to stockholders of record on July 31, 2014. The effects of the journal entry to record the payment of the dividend on August 15, 2014, are to

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Question 15

1 out of 1 points

 

 

 

Which of the following statements is not true about a 2-for-1 split?

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Question 16

1 out of 1 points

 

 

 

The following selected amounts are available for Thomas Company.
Retained earnings (beginning)                               $2,500
Net loss                                                                       200
Cash dividends declared                                             200
Stock dividends declared                                            200

What is its ending Retained Earnings balance?

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Question 17

1 out of 1 points

 

 

 

In the stockholders’ equity section of the balance sheet

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Question 18

1 out of 1 points

 

 

 

Herman Corporation had net income of $120,000 and paid dividends of $24,000 to common stockholders and $20,000 to preferred stockholders in 2014. Herman Corporation’s common stockholders’ equity at the beginning and end of 2014 was $450,000 and $550,000, respectively. Herman Corporation’s payout ratio for 2014 is

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Question 19

0 out of 1 points

 

 

 

Which of the following statements is true regarding corporate performance ratios?

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Question 20

10 out of 10 points

 

 

 

Match the items below by entering the appropriate code letter in the space provided.

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