Chapter 11 Questions(1)

Chapter 11 Questions(1) - Click to edit Master subtitle...

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Unformatted text preview: Click to edit Master subtitle style 4/15/11 Chapter 11 Questions 4/15/11 a. Dividends payable b. Loss on the sale of equipment c. Retained earnings d. Net income 1. Which of the following is an account in stockholders' equity? 4/15/11 • C 4/15/11 a. Preferred stock is stock that has been retired. b. It is very unlikely corporations may have more than one class of stock outstanding. c. The outstanding number of shares is the maximum number of shares that can be issued by a corporation. d. The shares that are in the hands of the stockholders are said to be outstanding. 2. Which of the following statements is true with regard to contributed capital? 4/15/11 • D 4/15/11 a. maximum number of shares that can be issued. b. number of shares that have been sold. c. number of shares that are currently held by stockholders. d. number of shares that have been repurchased by the corporation. 3. Authorized stock represents the 4/15/11 • A 4/15/11 a. the current market price of the stock. b. an arbitrary amount that exists to fulfill legal requirements. c. the amount at which the stock has been repurchased....
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Chapter 11 Questions(1) - Click to edit Master subtitle...

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