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CORPORATION V2

Authored by Nics Aguilera

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University

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CORPORATION V2
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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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