Quiz Ch14  Acct 103

Quiz Ch14 Acct 103

University

25 Qs

quiz-placeholder

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Quiz Ch14  Acct 103

Quiz Ch14 Acct 103

Assessment

Quiz

Business

University

Practice Problem

Hard

Created by

Mohd Alnajjar

Used 1+ times

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25 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When a component of an entity is disposed of, the disposal is reported separately on the income statement in the “discontinued operations” section, ignoring the income tax effect.

True

False

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Stock dividends reduce retained earnings and shareholders’ equity in total.

True

False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Stock splits have no effect on the shareholders’ equity accounts.

True

False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When calculating earnings per share, the current year’s dividend declared on preferred shares is subtracted from profit.

True

False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When a company reacquires shares and the shares are not retired or cancelled, they are referred to as treasury shares.

True

False

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The alternative payout ratio is calculated by dividing cash dividends per share by earnings per share.

True

False

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Prior-year financial statements that are published with the current statements are not adjusted for changes in accounting policies.

True

False

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