
CORPORATION V2
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University
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Nics Aguilera
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53 questions
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1.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Which is an advantage of a shareholder over a partner
Owner cannot directly control business operation
Owner can easily transfer his interest
Owner's liability is limited
2
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a major disadvantage of a corporation?
transferability of interest
availability of capital
limited liability
legal requirements
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
This account title is credited to represent shareholder's equity for contributions
made in cash, property or service.
share capital
subscribed share capital
subscription receivable
treasury share
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The amount at which the issue price exceeds the par value is credited to
gain on share capital
share premium
discount on share capital
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Shares of stock a corporation is allowed to issue.
Subscribed Shares
Treasury Shares
Authorized Shares
Issued SharesIssued Shares
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
One of these items may not form part of the shareholders' equity section
retained earnings
share premium
authorized shares capital
subscription receivable
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Filipinas Inc. sold 100 shares of P100 par common stock for P120. In recording this transaction you should
credit ordinary share capital, P12,000
credit ordinary share premium, P12,000
credit ordinary share capital P2,000 and ordinary share premium, P10,000.
credit ordinary share capital P10,000 and ordinary share premium P2,000.
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