Ch 11 LO.1 & LO.2

Ch 11 LO.1 & LO.2

12th Grade

12 Qs

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Ch 11 LO.1 & LO.2

Ch 11 LO.1 & LO.2

Assessment

Quiz

Specialty

12th Grade

Practice Problem

Hard

Created by

Lisa Parisi

Used 1+ times

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12 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When a corporation sells its stock at a price above par value, they should credit the difference to paid-in capital.

True

False

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Dividends can only be paid in cash.

True

False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Dividends are reported as a percentage of the stock price for common stock.

True

False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Common shareholders cannot be paid dividends until all preferred shareholders are paid.

True

False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the below are true about preferred stocks?

They have voting rights and are paid dividends before common stockholders.

They don't have voting rights but are paid dividends before common stockholders.

They don't have voting rights but they are paid before common stockholders in the event of liquidation.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When a corporation buys back shares, it records the purchase at par value.

True

False

Answer explanation

The corporation uses the cost method, so they record the amount that they paid for the stock.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The sale of treasury stock increases shareholders' equity.

True

False

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