Acc 116 accounting review chap 6

Acc 116 accounting review chap 6 - Your Answer: Points...

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1. Question: Characteristics of a corporation include: Your Answer: shareholders who are mutual agents direct management by the shareholders (owners) its inability to own property shareholders who have limited liability CORRECT Points Received: 2 of 2 Comments: 2. Question: One of the main disadvantages of the corporate form is the Your Answer: Points Received: 2 of 2 Comments: 3. Question: Under the corporate form of business organization
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Your Answer: Points Received: 2 of 2 Comments: 4. Question: Those most responsible for the major policy decisions of a corporation are the Your Answer: Points Received: 2 of 2 Comments: 5. Question: The ability of a corporation to obtain capital is Your Answer:
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Points Received: 2 of 2 Comments: 6. Question: Which of the following statements concerning taxation is accurate?
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Unformatted text preview: Your Answer: Points Received: 2 of 2 Comments: 7. Question: The term deficit is used to refer to a debit balance in which of the following accounts of a corporation? Your Answer: Points Received: 2 of 2 Comments: 8. 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: 0 of 2 Comments: 9. Question: The excess of issue price over par of common stock is termed a(n) Your Answer: Points Received: 2 of 2 Comments: 10. Question: Alma Corp. issues 1,000 shares of $10 par value common stock at $16 per share. When the transaction is recorded, credits are made to: Your Answer: Points Received: 2 of 2 Comments:...
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This note was uploaded on 07/10/2011 for the course AC116 AC116 taught by Professor Janowich during the Spring '10 term at Kaplan University.

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Acc 116 accounting review chap 6 - Your Answer: Points...

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