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- The creditors of corporations are equally liable for the debts of the firm. a. True b. False1) Real assets of a corporation are claims on their financial assets. TRUE/FALSE 2) Managers, shareholders, and the firm's debtholders have identical information about the value of the firm. TRUE/FALSEThe cost of equity is the rate associated with what the shareholders expect the corporation to earn in order for that shareholder to maintain ownership in the company. True / False
- Which of the following is the primary element that distinguishes accounting for corporations from accounting for partnerships? a. The corporation draws a sharper distinction in accounting for sources of capital. b. The entity theory relates primarily to the other forms of business organization. c. In a corporation, retained earnings may be reduced only by the declaration of dividends. d. Generally accepted accounting principles apply to corporations but have relatively little applicability to other forms of business organizations.Match the terms to the definition: Receive stipulated dividends, get paid first when there are profits, no say in corporate decisions. Are creditors not owners, get paid first regardless of profit or not, if company goes bankrupt they get paid first Last to get paid, able to vote in matters concerning the corporation A. Common Stock B. Preferred StockC. BondsWhich of the following statements is false concerning forms of businessorganization? a. A corporation has tax advantages over the other forms of businessorganization.b. It is easier for a corporation to raise large sums of money than it isfor a sole proprietorship or partnership.C. A sole proprietorship is an easy type of business to form.d. Owners Of sole proprietorships and partnerships have personalliability for the debts of the business while owners of corporationshave limited legal liability.
- Which of the following is not an advantage of the corporate form of business organization? a) unlimited life b) transferability of ownership c) limited liabilitiy of stockholders d) unlimited personal. liability for stockholdersWhich one of the following statements is TRUE? a. Creditors have a claim on a firm's earning stream through the dividend payments they receive. b. One tool of corporate governance is a company's tax avoidance strategy. c. One tool of corporate governance is stock repurchases. d. One tool of corporate governance is how the company's charter affects the likelihood of a takeover. e. One tool of corporate governance is choosing a good investment banker.An individual provides accounting services to a corporation in exchange for stock. the shareholder must recognize income and the corporation may deduct or capitalize the expenditure as would be deemed appropriate. A. True B. False
- Under the corporate form of business organization, Group of answer choices a)ownership rights are easily transferred b)a stockholder is personally liable for the debts of the corporation c)stockholders’ acts can bind the corporation even though the stockholders have not been appointed as agents of the corporation d)stockholders wishing to sell their corporate shares must get the approval of other stockholdersManagement and shareholders favor debt financing over equity financing for all of the following reasons, except A. The present owners remain in control of the corporation B. The interest incurred in debt financing is a deductible expense in arriving at taxable income while dividends are not C. The charge for interest on the debt may be less than the amount of dividends that might be expected by shareholders D. The interest on debt is not required to be paid periodically when the enterprise results in unfavorable operations and financial positionWhich of the following is not something that corporations can do with their profits? a. Pay income tax to the government b. They can do all of these. c. Pay them to shareholders d. Hold profits within the firm