ACCT 701 Module 6 Assessment Review 2018.docx - Module 6 Assessment Review 2018 Question 1 Which of the following is not an advantage of the corporate

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

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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: a. Liquidation value. b. Quasi-par value. c. Redemption value. d. Stated value. Question 3 Preferred 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 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: a. $200,000. b. None of these.
c. $700,000. d. $500,000. e. $300,000. Question 5 You are given the following information: Common Stock, $80,000 ($80 par)

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