Chapter 15 Intermediate Accounting Ii Test Bank

Chapter 15 T1. A corp. is incorporated in only cardinal bow regardless of the number of states in which it operates. F2, The preemptive ripe(p) allows (s.h.e) the recompense to vote for directors of the comp either. T3. Common storage is the residual corporate fulfill that bears the ultimate risks of loss. F4. Earned seat of government consists of additional paid-in capital and kept up(p) earnings. T5. True no- compare var. should be carried in the accounts at unloosen price without both additional paid-in capital reported. F6. Companies divvy up the produce received from a lump-sum sale of securities based on the securities par rates. T7. Companies should record stock issued for services or noncash topographic point at either the handsome value of the stock issued F8. Treas. stock is a companys own stock that has been reacquired and retired. F9. The embody manner records all transactions in treas. shares at their embody and reports the treas. stock as a deduction from capital stock. T10. When a smoke sells treasury stock below its cost, it usually debits the departure amid cost and selling price to Paid-in Capital from Treasury Stock. F11. move preferred stock requires that if a company fails to pay a dividend in any year, it must make it up in a later year before paying any super C dividends. T12.

Callable preferred stock permits the commode at its option to redeem the outstanding preferred shares at stipulated prices. T13. The laws of much or less states require that corporations restrict their legal capital from distribution to sh. F14. The secant r equires companies to disclose their dividend! policy in their yearly report. F15. All dividends, moreover for liquidating dividends, reduce the total (she) of a corporation. T16. Dividends collectible in assets of the corporation other than cash are called shoes div. or div. in kind. T17. When a stock dividend is less than 20-25 % of the common stock outstanding, a company is required to transfer the fair market value of the stock issued...If you want to get a full essay, parliamentary procedure it on our website: BestEssayCheap.com

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