Chapter 13 quiz

Chapter 13 quiz - Review Assessment: Quiz #2 Chap 13...

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Review Assessment: Quiz #2 Chap 13 Questio n 1 2 out of 2 points The amount printed on a stock certificate is known as: Selected Answer: Feedback : Correct. The amount printed on a stock certificate is known as par value. Questio n 2 2 out of 2 points When a corporation purchases its own stock, what account is debited for the cost of the stock? Selected Answer: Feedback : Correct. When a corporation purchases its own stock, Treasury Stock is debited for the cost of the stock. Questio n 3 2 out of 2 points The charter of a corporation provides for the issuance of 100,000 shares of common stock. Assume that 60,000 shares were originally issued and 5,000 were subsequently reacquired. What is the number of shares outstanding? Selected Answer: Feedback : Correct. The number of shares outstanding is 55,000 shares, determined as the 60,000 shares issued minus the 5,000 shares reacquired. Questio n 4 2 out of 2 points Which of the following is not a characteristic of the corporate form of organization?
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This note was uploaded on 10/25/2010 for the course ACT 2292 taught by Professor Dr.eddyj.burks during the Fall '10 term at Troy.

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Chapter 13 quiz - Review Assessment: Quiz #2 Chap 13...

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