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Question 1 Which of the following is not an advantage of a corporation? Government regulations. Separate legal existence. Transferable ownership

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Question 1  Which of the following is  not  an advantage of a corporation? Government regulations. Separate legal existence. Transferable ownership rights. Continuous life. Question 2  Which of the following is a disadvantage of a corporation limited liability of stockholders. additional taxes. transferable ownership rights. None of the above. Question 3  Which of the following statements is  false ? Ownership of common stock gives the owner a voting right. The par value of a share of stock is equal to its market value. The stockholders' equity section begins with paid-in capital. The authorization of capital stock does not result in a formal accounting entry. Question 4  ABC Corporation issues 1,000 shares of $10 par value common stock at $12 per share. In recording the transaction, credits  are made to: Common Stock $12,000. Common Stock $10,000 and Paid-in Capital in Excess of Par Value $2,000. Common Stock $10,000 and Retained Earnings $2,000. Common Stock $10,000 and Paid-in Capital in Excess of Stated Value $2,000. Question 5  XYZ, Inc. sells 100 shares of $5 par value treasury stock at $13 per share. If the cost of acquiring the shares was $10 per  share, the entry for the sale should include credits to: Treasury Stock $1,000 and Retained Earnings $300. Treasury Stock $500 and Paid-in Capital in Excess of Par Value $800. Treasury Stock $500 and Paid-in Capital from Treasury Stock $800.
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Treasury Stock $1,000 and Paid-in Capital from Treasury Stock $300. Question 6  In the stockholders' equity section, the cost of treasury stock is deducted from: total paid-in capital and retained earnings. retained earnings. total stockholders' equity. common stock in paid-in capital. Question 7  Preferred stock may have priority over common stock  except  in: voting. dividends. assets in the event of liquidation. cumulative dividend features. Question 8  M-Bot Corporation has 10,000 shares of 8%, $100 par value, cumulative preferred stock outstanding at December 31, 2011.  No dividends were declared in 2009 or 2010. If M-Bot wants to pay $375,000 of dividends in 2011, common stockholders will  receive: $295,000. $215,000. $135,000. $0. Question 9  Entries for cash dividends are required on the: declaration date and the record date. declaration date and the payment date. record date and the payment date. declaration date, record date, and payment date. Question 10  Which of the following statements about small stock dividends is true? A debit to Stock Dividends for the par value of the shares issued should be made.
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Question 1
Which of the following is not an advantage of a corporation?
Government regulations.
Separate legal existence.
Transferable ownership rights.
Continuous life.
Question 2
Which of the...

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