Question
1.(TCO 7) Stockholders of a corporation directly elect the(Points : 3)
board of directors.
president of the corporation.
chief financial officer of the corporation
chairperson of the board.
Question 2.2.(TCO 7) The basic unit of ownership for a corporation is(Points : 3)
dividends.
stock.
retained earnings.
capital.
Question 3.3.(TCO 7) When a company issues common stock greater than its par value, the excess should be credited to(Points : 3)
retained earnings.
common stock.
paid-in capital in excess of par.
capital.
Question 4.4.(TCO 7) Reasons that a company would purchase treasury stock include all of the following except(Points : 3)
management wants to avoid a takeover by an outside party.
it needs the stock for distribution to employees under stock purchase plans.
it wants to increase net assets by buying its stock low and reselling it at a higher price.
management wants to decrease earnings per share of common stock.
Question 5.5.(TCO 7) The date when a cash dividend becomes a legal obligation is on the(Points : 3)
date of record.
declaration date.
last day of the corporate year.
payment date.
Question 6.6.(TCO 7) The amount of owners’ equity attributable to each share of stock is known as the(Points : 3)
earnings per share.
book value per share.
market value per share.
preferred value per share.
Question 7.7.(TCO 1) The main purpose of the statement of cash flows is to(Points : 3)
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.
Question 8.8.(TCO 1) The statement of cash flows will not report(Points : 3)
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.
Question 9.9.(TCO 1) The three sections contained in the statement of cash flows are presented in the following order(Points : 3)
operating, investing, and financing.
financing, operating, and investing.
investing, operating, and financing.
financing, investing, and operating.
Question 10.10.(TCO 1) Financing activities involve(Points : 3)
issuing debt.
acquiring long-term assets.
lending money.
acquiring investments.
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