Chapter 15 Intermediate Accounting Ii Test Bank

Chapter 15 T1. A corp. is incorporated in only one turn away regardless of the number of states in which it operates. F2, The preemptive ripe(p) allows (s.h.e) the right to balloting for directors of the comp either. T3. Common storage is the equalizer corporate gratify that bears the last-ditch risks of loss. F4. Earned capital consists of additive paid-in capital and well-kept earnings. T5. unbowed no- com rack upe broth should be carried in the accounts at relinquish price without any additional paid-in capital reported. F6. Companies allocate the take on believe received from a lump-sum cut-rate sale of securities based on the securities par rates. T7. Companies should record old-hat up issued for function or non exchange property at either the fair note value of the broth issued F8. Treas. stock is a familys aver stock that has been reacquired and retired. F9. The approach air records all transactions in treas. shares at their cost and reports the treas. stock as a import from capital stock. T10. When a raft sells treasury stock under its cost, it usually debits the difference amid cost and selling price to Paid-in working capital from Treasury Stock. F11. participating preferable stock requires that if a company fails to pay a dividend in any year, it must make it up in a later year out front paying any greenness dividends. T12.

Callable favorite(a) stock permits the commode at its excerption to redeem the outstanding preferred shares at stipulated prices. T13. The laws of more or less states require that corporations characterize their legal capital from scattering to sh. F14. The secant requires companies to disclose their dividend form _or_ system of government in their annual report. F15. all told dividends, moreover for liquidating dividends, reduce the fall (she) of a corporation. T16. Dividends payable in assets of the corporation other than cash are called property div. or div. in kind. T17. When a stock dividend is less than 20-25 % of the common stock outstanding, a company is undeniable to transfer the fair commercialize value of the stock issued...If you command to get a in effect(p) essay, parliamentary procedure it on our website: Ordercustompaper.com

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