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Module 6 Assessment Review 2018Question 1Which 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 2An arbitrary amount assigned by the board of directors to each share of a given class of no-par stockis:Select one:a. Liquidation value.b. Quasi-par value.c. Redemption value.d. Stated value.Question 3Preferred stock that has dividends in arrears is:Select one:a. Noncumulative preferred stock.b. Noncumulative and callable preferred stock.c. Cumulative preferred stock.d. Noncumulative and convertible preferred stock.Question 4Quinn 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:a. $200,000.b. None of these.
c. $700,000.d. $500,000.e. $300,000.Question 5You are given the following information: Common Stock, $80,000 ($80 par)