ACC 291 Week 3 Chapter 11 Practice Quiz 1

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ACC 291 Week 3 - Chapter 11 Practice - Quiz 1

Question 1

Which of the following is not an advantage of a corporation?

Government regulations.

Separate legal existence.

Transferable ownership rights.

Continuous life.

Question 2

Which of the following is a disadvantage of a corporation

limited liability of stockholders.

additional taxes.

transferable ownership rights.

None of the above.

Question 3

Which of the following statements is false?

The stockholders' equity section begins with paid-in capital.

The authorization of capital stock does not result in a formal accounting entry.

Ownership of common stock gives the owner a voting right.

The par value of a share of stock is equal to its market value.

Question 4

ABC Corporation issues 1,000 shares of 10 par value common stock at 12 per...

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