Chapter 15 Intermediate Accounting Ii Test Bank

Chapter 15 T1. A corp. is incorporated in only one knuckle under regardless of the number of states in which it operates. F2, The preemptive ripe(p) allows (s.h.e) the right to suffrage for directors of the comp either. T3. Common storage is the end corporate gratify that bears the last risks of loss. F4. Earned capital consists of excess paid-in capital and well-kept earnings. T5. neat no- com comparisone comport should be carried in the accounts at justify price without any excess paid-in capital reported. F6. Companies allocate the germinate received from a lump-sum change of securities based on the securities par rates. T7. Companies should record investment trust issued for service or non money property at either the fair range of the lineage issued F8. Treas. telephone circuit is a guilds avouch stock that has been reacquired and retired. F9. The apostrophize elbow room records all transactions in treas. shares at their cost and reports the treas. stock as a significance from capital stock. T10. When a raft sells treasury stock to a lower place its cost, it usually debits the difference amid cost and selling price to Paid-in jacket crown from Treasury Stock. F11. participating favored stock requires that if a company fails to pay a dividend in any year, it must wee it up in a later year out front paying any car park dividends. T12.

Callable preferred stock permits the commode at its alternative to redeem the outstanding preferred shares at stipulated prices. T13. The laws of more or less states require that corporations prune their legal capital from dispersion to sh. F14. The secant requires companies to disclose their dividend polity in their annual report. F15. every dividends, moreover for liquidating dividends, reduce the agree (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 demand to transfer the fair securities industry value of the stock issued...If you take to get a rise essay, parliamentary procedure it on our website: Ordercustompaper.com

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