Select one true false feedback correct the correct

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Select one:True False FeedbackCorrect.The correct answer is 'True'.Question 7CorrectMark 1.00 out of 1.00
Flag questionQuestion text(T / F) Extraordinary items are both usual and interesting in nature. Extraordinary items appear on the income statement (net-of-tax effect) as part of "Income from continuing operations".Select one:True False FeedbackCorrect. Extraordinary items are both unusual and infrequent in nature. Extraordinary items appear on the income statement (net-of-tax effect) below "Income from continuing operations".The correct answer is 'False'.Question 8CorrectMark 1.00 out of 1.00Flag questionQuestion text(T / F) Income available to common stockholders is net income plus any dividends on preferred stock.Select one:True False
FeedbackCorrect. Income available to common stockholders is net income less any dividends on preferredstock.The correct answer is 'False'.Question 9CorrectMark 1.00 out of 1.00Flag questionQuestion text(T / F) The retained earnings balance of a corporation is part of its paid-in capital.Select one:True False FeedbackCorrect. The paid-in capital of a corporation only includes capital contributed by stockholders or others. Thus, it does not include retained earnings.The correct answer is 'False'.Question 10CorrectMark 1.00 out of 1.00Flag questionQuestion text
(T / F) The purchase of treasury stock does not affect stockholders' equity.Select one:True False FeedbackCorrect. The purchase of treasury stock reduces total stockholders' equity.The correct answer is 'False'.Flag questionQuestion textWhich of the following is not an advantage of the corporate form of organization?Select one:a. Easy transfer of ownership. b. Continuous existence of the entity. c. Double taxation. Correct.d. Limited liability of stockholders. FeedbackThe correct answer is: Double taxation.Question 2CorrectMark 10.00 out of 10.00Flag questionQuestion text
An arbitrary amount assigned by the board of directors to each share of a given class of no-par stock is:Select one:a. Stated value. Correct. Stated value is an arbitrary amount assigned by the board of directors to each share of capital stock without a par value.b. Liquidation value. c. Redemption value. d. Quasi-par value. FeedbackThe correct answer is: Stated value.Question 3CorrectMark 10.00 out of 10.00Flag questionQuestion textPreferred stock that has dividends in arrears is:Select one:a. Noncumulative and callable preferred stock. b. Cumulative preferred stock. Correct. Dividends in arrears are cumulative unpaid dividends. Only cumulative preferred stock has dividends in arrears.c. Noncumulative preferred stock. d. Noncumulative and convertible preferred stock.
FeedbackThe correct answer is: Cumulative preferred stock.Question 4CorrectMark 10.00 out of 10.00Flag questionQuestion textQuinn Corporation issued 10,000 shares of $20 par value common stock at $50 per share. The amount that would be credited to Paid-In Capital in Excess of Par Value—Common is:Select one:a. $700,000.

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