Corporation

This corporate book/record contains notes of what happened during a stockholders' or board meeting

• Board resolution

• Minutes of the meeting

• By laws

• Articles of incorporation

Ordinary share capital represents the residual ownership interest in a corporation.

• T

• F

What is the minimum amount that par value shares can be issued for?

• P1

• P5

• P100

• No minimum amount for par value shares

Share premium of ordinary shares are included in computing for both contributed capital and legal capital.

• T

• F

Treasury shares are treated as an asset, with the corporation buying its own shares.

• T

• F

The highest bidder is one who offers to pay the call price for the least number of shares.

• T

• F

Appropriation of Accumulated Profits does not affect the corporation’s total Accumulated Profits.

• T

• F

Only a memorandum entry is required to determine who are entitled to dividends as of the date of record.

• T

• F

Cash dividends paid decreases total stockholders’ equity.

• T

• F

The final amount in the Statement of Changes in Equity will also be used in another financial statement.

• T

• F