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ACC 304 Week 10 Chapter 15 Quiz (All Possible Questions)
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ACC 304 Week 10 Quiz – Strayer NEW
Week 10 Quiz 7: Chapter 15
STOCKHOLDERS’ EQUITY
IFRS questions are available at the end of this chapter.
TRUE-FALSE—Conceptual
1. A corporation is incorporated in only one state regardless
of the number of states in which it operates.
2. The preemptive right allows stockholders the right to
vote for directors of the company.
3. Common stock is the residual corporate interest that
bears the ultimate risks of loss.
4. Earned capital consists of additional paid-in capital and
retained earnings.
5. True no-par stock should be carried in the accounts at
issue price without any additional paid-in capital reported.
6. Companies allocate the proceeds received from a lumpsum sale of securities based on the securities’ par values.