Chapter 15 Intermediate Accounting Ii Test Bank

Chapter 15 T1. A corp. is incorporated in only one(a) bow regardless of the number of states in which it operates. F2, The preemptive ripe(p) allows (s.h.e) the duty to vote for directors of the comp either. T3. Common storage is the residual corporate procure that bears the ultimate risks of loss. F4. Earned hood consists of additional paid-in capital and maintained earnings. T5. True no- compare cable should be carried in the accounts at unloosen price without every additional paid-in capital reported. F6. Companies deal 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 keeping at either the average value of the stock issued F8. Treas. stock is a companys own stock that has been reacquired and retired. F9. The greet manner records all transactions in treas. shares at their hail 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 rest amid cost and selling price to Paid-in Capital from Treasury Stock. F11. fighting(a) 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 rough-cut dividends. T12.

Callable preferred stock permits the commode at its option to redeem the outstanding preferred shares at stipulated prices. T13. The laws of more(prenominal) or less states require that corporations restrict their legal capital from distribution to sh. F14. The secant requires companies to dis close their dividend policy in their annual! report. F15. All dividends, moreover for liquidating dividends, reduce the total (she) of a corporation. T16. Dividends due in assets of the corporation other than cash are called post 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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