Question
In: Accounting
Question 5 Of the following statements, which are true for the corporate form of organization? Owners...
Question 5
Of the following statements, which are true for the corporate form of organization?
Owners have limited liability for corporate debts
Directors oversee its business affairs Stockholders do not have the power to bind the corporation to contracts
Transfer of ownership rights among owners generally does not impact equity
Compared to other forms of organization-capital (financing) is more difficult to accumulate
Generally there not double taxation on corporate income that is distributed to owners
Owners are agents of the corporation
Solutions
ekkarill92 answered 1 year agoRelated Solutions
Identify which of the following statements are true for the corporate form of organization. (You may...
Identify which of the following statements are true for the
corporate form of organization. (You may select more than
one answer. Single click the box with the question mark to produce
a check mark for a correct answer and double click the box with the
question mark to empty the box for a wrong answer.)
Owners have limited liability for corporate
debts.unanswered
Shareholders are not personally liable for corporate
acts.unanswered
The sale of shares from one stockholder to another...
Identify which of the following statements are true for the corporate form of organization. (You may...
Identify which of the following statements are true for the
corporate form of organization. (You may select more than
one answer. Single click the box with the question mark to produce
a check mark for a correct answer and double click the box with the
question mark to empty the box for a wrong answer.)
Shareholders are not personally liable for corporate
acts.unchecked
Directors oversee its business affairs.unchecked
The sale of shares from one stockholder to another does not...
Of the following statements, which are true for the corporate form of organization? (you may select...
Of the following statements, which are true for the corporate
form of organization? (you may select more than
one)
1. Directors oversee its business affairs.unchecked
2. Stockholders do not have the power to bind the corporation to
contracts.unchecked
3.It has a continuous life.unchecked
4.Transfer of ownership rights among owners generally does not
impact equity.unchecked
5.Compared to other forms of organization- capital (financing)
is more difficult to accumulate.unchecked
6.Generally there is no double taxation on corporate income that
is distributed to...
Which of the following is NOT a characteristic of the corporate form of business organization? separate...
Which of the following is NOT a characteristic of the corporate
form of business organization?
separate legal entity
responsible for paying its own income taxes
shares are transferable
unlimited liability
4.Which of the following is not a major advantage of a corporate form of organization? Separate...
4.Which of the following is
not a major advantage of a corporate form of
organization?
Separate legal existence.
Continuous life.
Government regulations.
Transferable ownership rights.
5. ABC Corporation issues 1,000 shares of $10
par value common stock at $12 per share. In recording the
transaction, credits are made to:
Common Stock $10,000 and Paid-in Capital in Excess of Stated
Value $2,000.
Common Stock $12,000.
Common Stock $10,000 and Paid-in Capital in Excess of Par
$2,000.
Common Stock $10,000 and Retained...
16. Which of the following statements about partnerships are true? A. Partnerships afford their owners a...
16. Which of the following statements about partnerships are
true?
A.
Partnerships afford their owners a liability shield against
claims from third parties.
B.
For tax purposes, partnerships are pass through entities.
C.
Absent an agreement to the contrary partnerships do not survive
the death of one of the partners.
D.
Partnerships are relatively easy to form.
17.The Securities and Exchange Commission holds primary
responsibility for which of the following. Check all that
apply.
A.
Determining the offering price for...
which of the following statements is true? - A separate form 8949 must be filed for...
which of the following statements is true?
- A separate form 8949 must be filed for each transaction for
which the tax payer did not receive a form 1099B.
- any taxpayer must file a separate schedule D for each form
1099B transaction with bases reported to the IRS.
- short term transactions are reported on form 8949 and
long-term transactions are reported on schedule D.
- The totals from each schedule D are combined on form
8949.
In this discussion question you will discuss the corporate form of business organization: What are the...
In this discussion question you will discuss the corporate form
of business organization:
What are the advantages and disadvantages of the corporate form
of business organization? How does the corporate form of
organization compare to sole proprietorships and partnerships? What
are the advantages and disadvantages of each? If you were to start
a business today, which of these forms of business organization
would you chose? What would be the single deciding factor that
would help you in your decision? Why?
5) Which of the following is a STRENGTH of the sole proprietorship form of organization? You...
5) Which of the following is a STRENGTH of the sole
proprietorship form of organization? You are identifying a
strength, not a weakness.
Profits are subject to one level of taxation.
Owner faces LIMITED liability.
Shares of stock make ownership easily transferable.
Profits are subject to two levels of taxation.
6) Which of the following is a WEAKNESS of the corporate form of
organization? You are identifying a weakness, not a strength.
Profits are subject to one level of taxation....
Which of the following statements is TRUE? Multiple Choice The goal of a corporate financial manager...
Which of the following
statements is TRUE?
Multiple Choice
The goal of a
corporate financial manager is to maximize the wealth of the firm’s
lenders.
A distinct feature of
sole proprietorship is the separation of ownership and
management.
The goal of a
corporate financial manager is to maximize the firm’s profit.
Agency problem is the
conflict of interest between a firm’s principal and its agent.
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