S1 The Corporation will always issue all the delinquent shares to the highest bidder which are partially paid. S2 Shareholders own the business and manage the day-to-day affairs of the corporation. a. Both statements are true b. Both statements are false c. One statement is true, and the other one is false

S1 The Corporation will always issue all the delinquent shares to the highest bidder which are partially paid. S2 Shareholders own the business and manage the day-to-day affairs of the corporation. a. Both statements are true b. Both statements are false c. One statement is true, and the other one is false

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter22: S Corporations

Section: Chapter Questions

Problem 2DQ

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S1 The Corporation will always sell all partly paid overdue shares to the highest bidder. $2 Shareholders own the company and are in charge of its day-to-day operations. a. Both of the assertions are correct.b. Both of the assertions are incorrect.c. One statement is correct, while the other is incorrect. Solve in 30 min
S1 When a corporation reacquired its own share due to delinquency and no bidders, the share must be retired immediately. S2 An ordinary shareholder receives, the same privileges and rights as preference shareholders. a. Both statements are true b. Both statements are false c. One statement is true, and the other one is false S1 A subscriptions receivable that are collectible within one year is part of shareholders equity. S2 Par value equity shares should not be issued for a consideration below P5.00 per share. a. Both statements are true b. Both statements are false c. One statement is true, and the other one is false
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