Quiz Ch 10 – Election of Corporate Positions by Stockholders
Financial Accounting
Thomas, Tietz, and Harrison
12th Edition
Which position do stockholders of a corporation directly elect?
Which position do stockholders of a corporation directly elect?
What is the class of stock assumed if a corporation has only one class of stock?
Identify the stockholder’s right of ownership that is NOT included in the given options.
The stockholders’ equity section of the balance sheet reports treasury stock.
Reporting the purchase of treasury stock on the statement of cash flows is classified as a financing activity.
Corporations can sell stocks directly or use an underwriter.
The charter discloses the authorized number of common stock shares a corporation can issue.
Common stockholders receive dividends irrespective of whether the preferred stockholders have been paid first.
A change in ownership of common stock results in the formation of a new corporation.
When a corporation buys back its stock, total assets and stockholders’ equity increase.