Corporate Accounting

A stock corporation is a public corporation organized for profit?

• True

• False

A par value share has nominal value stated on the face of the share certificate?

• True

• False

When the share is sold at more than the par value, the difference is called "discount on share capital", which is then credit?

• True

• False

Deficiency in Accumulated Profits and Losses balance will decrease the shareholder's equity?

• True

• False

Share Dividends Payable are part of Liability?

• True

• False

Treasury share is an asset of the issuing corporation?

• True

• False

Treasury shares have the voting rights while they remained in the treasury?

• True

• False

A corporation is like an artificial person. It can transact business under its own name, hold or disposed property but it can never be sued to court?

• True

• False

Shareholders are not liable to corporate obligations in excess of their legal capital?

• True

• False

A person of minor age can be a shareholder but can never be an incorporator in a corporation?

• True

• False