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Question (Category: Business)
1. The costs of bringing a corporation into existence, including legal fees, promoter fees, and amounts paid to obtain a charter are called:A. Minimum legal capital.B. Stock subscriptions.C. Organization costs.D. Cumulative costs.E. Prepaid fees.2. The right of common shareholders to protect their proportionate interest in a corporation by having the first opportunity to buy additional proportionate shares of common stock issued by the corporation is called a:A. Preemptive right.B. Proxy right.C. Right to call.D. Financial leverage.E. Voting right.3. Buying stock in a corporation is attractive to investors because:A. Stockholders are not liable for the corporation's actions and debts.B. Stock is easily transferred.C. A corporation has unlimited life.D. Shareholders are not agents of the corporation.E. All of these.4. The total amount of cash and other assets received by a corporation from its stockholders in exchange for common stock is:A. Always equal to its par value.B. Always equal to its stated value.C. Referred to as paid-in capital.D. Referred to as retained earnings.E. Always below its stated value.5. Stockholders' equity consists of:A. Long-term assets.B. Paid-in capital and retained earnings.C. Paid-in capital and par value.D. Retained earnings and cash.E. Premiums and discounts.6. Retained earnings:A. Generally consists of a company's cumulative net income less any net losses and dividends declared since its inception.B. Can only be appropriated by setting aside a cash fund.C. Represent an amount of cash available to pay shareholders.D. Are never adjusted for anything other than net income or dividends.E. All of these.7. A company had a beginning balance in retained earnings of $43,000. It had net income of $6,000 and paid out cash dividends of $5,625 in the current period. The ending balance in retained earnings equals:A. $108,625.B. $(12,625).C. $11,375.D. $43,375.E. $(11,375).8. Shamrock Company had net income of $30,000. On January 1, the number of shares of common stock outstanding were 8,000. There were no other stock transactions. The company's earnings per share is:A. $3.75.B. $3.00.C. $3.33.D. $15.00.E. $3.16.9. A bond traded at 102
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