ACCT 701 Module 6 Assessment Review 2018.docx - Module 6...

Module 6 Assessment Review 2018
Question
1
Which of the following is not an advantage of the corporate form of organization?
Select one:
a. Double taxation.
b. Limited liability of stockholders.
c. Continuous existence of the entity.
d. Easy transfer of ownership.
Question
2
An arbitrary amount assigned by the board of directors to each share of a given class of no-par stock
is:
Select one:
Question
3
Preferred stock that has dividends in arrears is:
Select one:
Question
4
Quinn Corporation issued 10,000 shares of $20 par value common stock at $50 per share. How
much would be considered to be Paid-In Capital in Excess of Par Value from Common Stock?
Select one:

c. $700,000.
d. $500,000.
e. $300,000.
Question
5
You are given the following information:
Common Stock, $80,000 ($80 par)