Which of the following is not a right of an ordinary shareholder? Select one: O a. None of the answers are correct. O b. Right to receive dividends. O C Share in assets at liquidation. Od. Right to record cash transactions. O e. Right to vote and elect the board of directors.
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- Chelsea Company is a sole proprietorship. Ashley, Incorporated is a corporation. Which company would report stockholders equity and retained earnings and not simply owners equity? Why? What is the difference between these accounts?Write T if the statement is correct and F if the statement is incorrect. On the space provided, briefly explain using the concepts discussed why your answer to a statement is T or F. 1. A person of minor age can be a shareholder but can never be an incorporator in a corporation.What is the control requirement of § 351? Describe the effect of the following in satisfying this requirement: A shareholder renders only services to the corporation for stock. A shareholder renders services and transfers property to the corporation for stock. A shareholder has only momentary control after the transfer. A long period of time elapses between the transfers of property by different shareholders.
- Write T if the statement is correct and F if the statement is incorrect. On the space provided, explain using the concepts discussed why your answer to a statement is T or F. 1. A person of minor age can be a shareholder but can never be an incorporator in a corporation. 2. A corporation can be an incorporator in another corporation. 3. A share certificate can be issued to those subscribers who partially paid their subscriptions. 4. A corporation or business partnership can be an incorporator but not a corporator. 5. All partnership can be an incorporator in a corporation. 6. On January 10,2021, Ana paid 90% of her subscription in Jollibee Foods Corporation. She will receive her certificate of stock on January 10,2021. 7. Continued inoperation of a corporation for at least 5 consecutive years will result in its certificate of incorporation being deemed revoked. 8. In case of conflict between the by-laws and the corporation code, the code shall prevail.1.Which of the following is NOT one of the basic shareholder's rights? Which of the following is NOT one of the basic shareholder's rights? The right to participate in the proceeds of the sale of the corporation upon liguidation. The right to inspect the records of the corporation The right to maintain one's proportional interest in the corporation. The right to participate in earnings 2.Which of the following statements is NOT correct about the rights granted to common stockholders? Group of answer choices a. Stockholders may transfer their right to vote to a second party by means of a proxy. b. Dividends due to common stockholders are cumulative. c. Common stockholders have the right to elect a firm's directors. d. In large, publicly traded firms, managers typically have some stock but their personal holdings are generally insufficient to win voting control.
- Which of the following represents one of the basic rights of stockholders? a. Stockholders may sell their stock back to the company if they wish. b. Stockholders may authorize a business contract on behalf of the corporation. c. Stockholders may determine at what price the company issues stock. d. Stockholders may participate in management by voting on corporate matters.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 stockholdersAn 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
- 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. BondsTrue or false Corporations are legal entities separate from their owners and offer the advantage of limited liability to the shareholders__________________________. Common stock carries voting privileges while preferred stock gives up this right to receive a dividend preference________________________. The board of directors who are responsible for dividends creates the liability for dividends on the declaration date ___________________________.The ability of any stockholder to transfer stock to another person without the knowledge or the consent of the other stockholders and without disturbing the normal activities of the corporation is called a. unlimited life. b. suitability for large scale operations. c. taxation of corporate earnings. d. transferable ownership units.