quize 6 - 0 of 2 Comments 7 Question A corporation issues...

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Grade Details 1. Question: A disadvantage of the corporate form of business entity is Your Answer: mutual agency for stockholders unlimited liability for stockholders corporations are subject to more governmental regulations CORRECT the ease of transfer of ownership Points Received: 2 of 2 Comments: 2. Question: Under the corporate form of business organization Your Answer: Points Received: 2 of 2 Comments:
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3. Question: Those most responsible for the major policy decisions of a corporation are the Your Answer: Points Received: 2 of 2 Comments: 4. Question: The ability of a corporation to obtain capital is Your Answer: Points Received: 2 of 2 Comments: 5. Question: Which of the following is not a right possessed by common stockholders of a corporation? Your Answer:
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Points Received: 2 of 2 Comments: 6. Question: Which of the following accounts below is reported in the paid-in capital/stockholders' equity section of the corporate balance sheet? Your Answer: Points Received:
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Unformatted text preview: 0 of 2 Comments: 7. Question: A corporation issues 1,500 shares of common stock for $ 32,000. The stock has a stated value of $10 per share. The journal entry to record the stock issuance would include a credit to Common Stock for Your Answer: Points Received: 2 of 2 Comments: 8. Question: The journal entry to issue 1,000,000 shares of $5 par common stock for $6.75 per share on January 2nd would be: Your Answer: Points Received: 2 of 2 Comments: 9. Question: When common stock is issued in exchange for a noncash asset, the transaction should be recorded at Your Answer: Points Received: 2 of 2 Comments: 10. Question: 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 10,000 were subsequently reacquired. What is the number of shares outstanding? Your Answer: Points Received: 0 of 2 Comments:...
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This note was uploaded on 04/19/2011 for the course AC 116 taught by Professor Hill during the Spring '08 term at Kaplan University.

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quize 6 - 0 of 2 Comments 7 Question A corporation issues...

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