ACCT 212 Week 6 Quiz (100% Guranteed Pass)

ACCT 212 Week 6 Quiz Question 1.1. (TCO 7) Stockholders of a corporation directly elect the (Points : 3) board of directors. president of the corporation. chief financial officer of the corporation chairperson of the board. Question 2.2. (TCO 7) If a corporation has only one class of stock, it is understood to be (Points : 3) preferred stock. common stock. contributory stock. equity stock. Question 3.3. (TCO 7) The price that the stockholder pays to acquire stock from the corporation is the (Points : 3) par price. authorized price. offering price. issue price. Question 4.4. (TCO 7) Reasons that a company would purchase treasury stock include all of the following except (Points : 3) management wants to avoid a takeover by an outside party. it needs the stock for distribution to employees under stock purchase plans. it wants to increase net assets by buying its stock low and reselling it at a higher price. management wants to decrease earnings per share of common stock. Question 5.5. (TCO 7) The authority to declare a dividend lies with the (Points : 3) CFO. shareholders. SEC. Board of Directors. Question 6.6. (TCO 7) Book value per share of common stock is computed by dividing (Points : 3) total paid-in capital by the number of common shares of stock issued. total paid-in capital by the number of common shares of stock outstanding. total stockholders' equity by the number of common shares of stock issued. total stockholders' equity by the number of common shares of stock outstanding. Question 7.7. (TCO 1) The financial statement that reports cash receipts and cash payments classified according to the company's major activities of operating, investing, and financing is the (Points : 3) income statement. balance sheet. statement of cash flows. statement of operating activities. Question 8.8. (TCO 1) The best gauge of a company's ability to produce ample cash to continue as a going concern is net cash provided by (Points : 3) operating activities. investing activities. financing activities. analytical activities. Question 9.9. (TCO 1) Which of the three types of activities reported on the statement of cash flows is the most critical? (Points : 3) Investing activities Operating activities Financing activities Investing and financing activities Question 10.10. (TCO 1) Usually, the most important category on the statement of cash flows is cash flows from (Points : 3) operating activities. investing activities. financing activities. noncash ac