Quizzes

Exit

Question 1 of 1

  Time Left


0 [{"id":630146,"quiz_id":"30810","answer_id":null,"answerType_id":"0","created_at":"2018-11-27 21:31:05","updated_at":"2018-11-27 21:31:05","questionName":"When capital stock is issued for noncash assets, the assets received should be\r\nrecorded at the par value of the stock issued.","questionTimeSeconds":"0","questionTimeMinutes":"1","questionImagePath":null,"position":null,"explanation":"The general rule to be applied when stock is issued for assets other than cash is that the\r\nnoncash assets be recorded at either their fair market value or the fair market value of\r\nthe stock issued, whichever is more clearly determinable.","question_score_id":null,"lang":"","questionAudioPath":null},{"id":630144,"quiz_id":"30810","answer_id":null,"answerType_id":"0","created_at":"2018-11-27 21:30:40","updated_at":"2018-11-27 21:30:40","questionName":"Contributed capital is the capital that develops if the business operates profitably.","questionTimeSeconds":"0","questionTimeMinutes":"1","questionImagePath":null,"position":null,"explanation":"Contributed capital (paid-in capital) is the term used to describe the total amount paid\r\nin on capital stock at any given time. Earned capital is the capital that develops if the\r\nbusiness operates profitably.","question_score_id":null,"lang":"","questionAudioPath":null},{"id":630155,"quiz_id":"30810","answer_id":null,"answerType_id":"0","created_at":"2018-11-27 21:32:20","updated_at":"2018-11-27 21:32:20","questionName":"Dividends in arrears on preferred stock should be classified on the balance sheet as\r\na liability.","questionTimeSeconds":"0","questionTimeMinutes":"1","questionImagePath":null,"position":null,"explanation":"No liability exists for preferred dividends in arrears. The only time a liability exists for\r\ndividends is after they are declared by the board of directors. Any dividends in arrears\r\non preferred stock should be disclosed in a footnote to the financial statements.","question_score_id":null,"lang":"","questionAudioPath":null},{"id":630153,"quiz_id":"30810","answer_id":null,"answerType_id":"0","created_at":"2018-11-27 21:31:51","updated_at":"2018-11-27 21:31:51","questionName":"Treasury shares represent a reduction in the number of outstanding shares but not\r\nin the number of issued shares.","questionTimeSeconds":"0","questionTimeMinutes":"1","questionImagePath":null,"position":null,"explanation":"","question_score_id":null,"lang":"","questionAudioPath":null},{"id":630141,"quiz_id":"30810","answer_id":null,"answerType_id":"0","created_at":"2018-11-27 21:30:16","updated_at":"2018-11-27 21:30:16","questionName":"The par value of a share of common stock usually is a good indication of what the\r\nstock is worth on the market.","questionTimeSeconds":"0","questionTimeMinutes":"1","questionImagePath":null,"position":null,"explanation":"The par value of a stock issued has no relationship to the fair market value of the stock.\r\nPar value has but one real significance; it establishes the maximum responsibility of a\r\nstockholder in the event of corporate insolvency or other involuntary dissolution.","question_score_id":null,"lang":"","questionAudioPath":null},{"id":630156,"quiz_id":"30810","answer_id":null,"answerType_id":"0","created_at":"2018-11-27 21:32:35","updated_at":"2018-11-27 21:32:35","questionName":"Preferred stock does not have the voting right unless it possesses the participating\r\nfeature.","questionTimeSeconds":"0","questionTimeMinutes":"1","questionImagePath":null,"position":null,"explanation":"The participating feature of preferred stock refers to the right of preferred shareholders\r\nto share ratably with the common stockholders in any profit distribution beyond the\r\nprescribed rate. Preferred stock is normally nonvoting stock.","question_score_id":null,"lang":"","questionAudioPath":null},{"id":630147,"quiz_id":"30810","answer_id":null,"answerType_id":"0","created_at":"2018-11-27 21:31:16","updated_at":"2018-11-27 21:31:16","questionName":"Management salaries and other indirect costs related to a stock issue should be\r\nexpensed as incurred.","questionTimeSeconds":"0","questionTimeMinutes":"1","questionImagePath":null,"position":null,"explanation":"","question_score_id":null,"lang":"","questionAudioPath":null},{"id":630149,"quiz_id":"30810","answer_id":null,"answerType_id":"0","created_at":"2018-11-27 21:31:25","updated_at":"2018-11-27 21:31:25","questionName":"A company might purchase its outstanding stock to provide tax efficient\r\ndistributions of excess cash to shareholders.","questionTimeSeconds":"0","questionTimeMinutes":"1","questionImagePath":null,"position":null,"explanation":"","question_score_id":null,"lang":"","questionAudioPath":null},{"id":630145,"quiz_id":"30810","answer_id":null,"answerType_id":"0","created_at":"2018-11-27 21:30:49","updated_at":"2018-11-27 21:30:49","questionName":"Under the incremental method, the market value of the securities is used as a basis\r\nfor those classes that are known and the remainder of the lump sum is allocated to the class\r\nfor which the market value is not known.","questionTimeSeconds":"0","questionTimeMinutes":"1","questionImagePath":null,"position":null,"explanation":"","question_score_id":null,"lang":"","questionAudioPath":null},{"id":630143,"quiz_id":"30810","answer_id":null,"answerType_id":"0","created_at":"2018-11-27 21:30:25","updated_at":"2018-11-27 21:30:25","questionName":"Contributions by shareholders (paid-in capital) and income retained by the\r\ncorporation represent the two primary sources from which corporate equity is derived.","questionTimeSeconds":"0","questionTimeMinutes":"1","questionImagePath":null,"position":null,"explanation":"","question_score_id":null,"lang":"","questionAudioPath":null},{"id":630154,"quiz_id":"30810","answer_id":null,"answerType_id":"0","created_at":"2018-11-27 21:32:06","updated_at":"2018-11-27 21:32:06","questionName":"The gain on the sale of treasury stock should be included in income before\r\nextraordinary items on the income statement.","questionTimeSeconds":"0","questionTimeMinutes":"1","questionImagePath":null,"position":null,"explanation":"If treasury stock is reissued at a price in excess of the acquisition cost, the excess is\r\ncredited to an account titled Paid-in Capital from Treasury Stock. This account is\r\nshown in the equity section of the balance sheet. A corporation cannot report a \u201cgain\u201d\r\nor a \u201closs\u201d from dealing in its own stock.","question_score_id":null,"lang":"","questionAudioPath":null},{"id":630157,"quiz_id":"30810","answer_id":null,"answerType_id":"0","created_at":"2018-11-27 21:32:45","updated_at":"2018-11-27 21:32:45","questionName":"The dividend preference related to preferred stock is merely an assurance that the\r\nstated dividend rate or amount must be paid before any dividends can be paid on the\r\ncommon stock.","questionTimeSeconds":"0","questionTimeMinutes":"1","questionImagePath":null,"position":null,"explanation":"","question_score_id":null,"lang":"","questionAudioPath":null},{"id":630158,"quiz_id":"30810","answer_id":null,"answerType_id":"0","created_at":"2018-11-27 21:33:01","updated_at":"2018-11-27 21:33:01","questionName":"A convertible preferred stock issue normally will sell for a lower price than the\r\nsame issue would without the conversion feature.","questionTimeSeconds":"0","questionTimeMinutes":"1","questionImagePath":null,"position":null,"explanation":"The shareholder who owns convertible preferred stock not only enjoys the preferred\r\nclaim on dividends, but also has the option of converting into a common shareholder.\r\nBecause of the attractiveness of this feature, convertible preferred stock will normally\r\nsell for a higher price than the same issue would without the conversion feature.","question_score_id":null,"lang":"","questionAudioPath":null},{"id":630150,"quiz_id":"30810","answer_id":null,"answerType_id":"0","created_at":"2018-11-27 21:31:34","updated_at":"2018-11-27 21:31:34","questionName":"Treasury shares are issued shares of the company\u2019s own stock that have been\r\nreacquired but not retired.","questionTimeSeconds":"0","questionTimeMinutes":"1","questionImagePath":null,"position":null,"explanation":"","question_score_id":null,"lang":"","questionAudioPath":null},{"id":630152,"quiz_id":"30810","answer_id":null,"answerType_id":"0","created_at":"2018-11-27 21:31:42","updated_at":"2018-11-27 21:31:42","questionName":"Treasury stock should be shown as a deduction from total stockholders\u2019 equity.","questionTimeSeconds":"0","questionTimeMinutes":"1","questionImagePath":null,"position":null,"explanation":"","question_score_id":null,"lang":"","questionAudioPath":null}]
630146
0
60
block

When capital stock is issued for noncash assets, the assets received should be recorded at the par value of the stock issued.

Select the Correct Answers  

(0/0)








630144
0
60
none
630155
0
60
none
630153
0
60
none
630141
0
60
none
630156
0
60
none
630147
0
60
none
630149
0
60
none
630145
0
60
none
630143
0
60
none
630154
0
60
none
630157
0
60
none
630158
0
60
none
630150
0
60
none
630152
0
60
none