Text t f plant assets are sometimes wrecked in

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Question 11Question text(T / F) Plant assets are sometimes wrecked in accidents or destroyed by fire, flood, storm, and other causes. If the asset was not insured, the loss is equal to the book value. If the asset was insured, only the amount of the loss exceeding the amount to be recovered from the insurance company would be considered a loss.Select one:True False FeedbackCorrect.The correct answer is 'True'(T / F) Stock "Par value" is an arbitrary amount assigned to each share of a given class of stock and printed
on the stock certificate.
Question 2Question text(T / F) "Capital stock authorized" is the maximum number of shares of stock that a corporation can issue asdesignated in its charter.Select one:
Question 3Question text(T / F) "Capital stock issued" is the number of shares of stock that have been sold and issued to stockholders. Capital stock issued includes any Treasury Stock.
Question 4Question text(T / F) "Capital stock outstanding" is the number of authorized shares of stock that have been issued and that are still currently held by stockholders. Capital stock outstanding excludes any Treasury Stock.Select one:True False FeedbackCorrect.The correct answer is 'True'.
Question 5Question text(T / F) The return on average common stockholders' equity equals net income available to common stockholders divided by average common stockholders' equity.
Question 6Question text(T / F) Paid-in capital is presented in the stockholders' equity section of the balance sheet. Each source of paid-in capital is listed separately.
Question 7Question 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".

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