Chapter 15

Chapter 15 - Self Test, Question 1 Correct. Which one of...

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Unformatted text preview: Self Test, Question 1 Correct. Which one of the following is not a right of stockholders? To share proportionately in any new issues of stock of the same class. To share proportionately in profits and losses. To share proportionately in all management decisions. To share proportionately in corporate assets upon liquidation. Self Test, Question 2 Correct. Characteristics of the corporate form of organization include all of the following except: formality of profit distribution. variety of ownership interests. unlimited liability of stockholders. capital stock or share system. Self Test, Question 3 Correct. Categories of stockholders' equity include all of the following except: earned capital stock. additional paid-in capital. retained earnings. capital stock. Self Test, Question 4 Correct. Additional paid-in capital is not affected by the issuance of: stated value stock. par value stock. no-par stock. preferred stock. Self Test, Question 5 Correct. All of the following are reasons for purchasing treasury stock except to: increase the earnings per share and return on equity. make a market for the stock. increase the number of shareholders. provide tax efficient distributions to shareholders. Self Test, Question 6 Correct. The entry to record the retirement of treasury stock would include a debit to: Common Stock for the par value of the treasury shares. Treasury Stock for the par value of the shares. Treasury stock for the cost of the treasury shares. Common Stock for the cost of the treasury shares. Self Test, Question 7 Correct. All of the following are features of preferred stock except: voting. callable at the corporation's option. convertible into common stock. preference as to dividends. Self Test, Question 8 Correct. The most common type of preferred stock is: callable preferred stock. convertible preferred stock. cumulative preferred stock. participating preferred stock. Self Test, Question 9 Correct. Which of the following dividends do not reduce total stockholders' equity? Liquidating dividends. Cash dividends. Stock dividends. All of the options reduce total stockholders' equity. Self Test, Question 10 Correct. When a property dividend is declared, Retained Earnings is reduced by the: carrying value of the property. fair value of the property. book value of the property. cost of the property....
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This note was uploaded on 07/27/2011 for the course ACCT 304 taught by Professor Hendren during the Summer '08 term at Strayer.

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Chapter 15 - Self Test, Question 1 Correct. Which one of...

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