ACCT212 Quiz Week 6

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ACCT212 Quiz Week 6
(TCO 7) Which one of the following is not a stockholder’s right of ownership in a corporation…

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ACCT212 Quiz Week 6

ACCT212 Quiz Week 6

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(TCO 7) Stockholders of a corporation directly elect the

Board of directors.

President of the corporation.

Chief financial officer of the corporation

Chairperson of the board.

(TCO 7) Which one of the following is not a stockholder’s right of ownership in a corporation?

To vote and elect the board of directors

To receive a proportionate share of the assets upon liquidation

To maintain one’s proportional share of ownership in the corporation

To declare dividends

(TCO 7) The difference between the issue price of the stock and the par value of the stock is

Market value.

Par value.

Additional paid-in capital.

Preferred stock.

(TCO 7) Stock that a corporation purchases from shareholders is called

Treasury stock.

Authorized stock.

Issued stock.

Outstanding stock.

(TCO 7) The effect of the declaration of a cash dividend is a(n)

Increase to liabilities and a decrease to stockholders’ equity.

Increase to liabilities and a decrease to assets.

Increase to assets and a decrease to liabilities.

Increase to stockholders’ equity and a decrease to assets.

(TCO 7) Book value per share of common stock is computed by dividing

Total paid-in capital by the number of common shares of stock issued.

Total paid-in capital by the number of common shares of stock outstanding.

Total stockholders’ equity by the number of common shares of stock issued.

Total stockholders’ equity by the number of common shares of stock outstanding.

(TCO 1) The main purpose of the statement of cash flows is to

Provide information about the cash receipts and cash payments during a period.

Provide information about the investing and financing activities during a period.

Prove that revenues exceed expenses if there is a net income.

Assist banking relationships.

(TCO 1) The statement of cash flows will not report

The number of checks not written at the end of the period.

How cash was used in the current period.

Changes in the cash balance for the current period.

The sources of cash in the current period.

(TCO 1) Which of the three types of activities reported on the statement of cash flows is the most critical?

Investing activities

Operating activities

Financing activities

Investing and financing activities

(TCO 1) Usually, the most important category on the statement of cash flows is cash flows from

Operating activities.

Investing activities.

Financing activities.

Noncash activities.

ACCT212 Quiz Week 6

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