Financial and Managerial Accounting 4th Edition Wild Test Bank

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Financial and Managerial Accounting 4th Edition Wild Test Bank Corporate Reporting and Analysis True / False Questions 1. A corporation is a separate legal entity from its owners. Tr... ue False 2. Authorized stock is the total number of shares outstanding. True False 3. Minimum legal capital requirements often prohibit dividends when the dividends reduce stockholders' equity below the minimum specified amount. True False 4. A corporation can issue both common and preferred stock. True False 5. Common stock always carries a preference for receiving dividends over preferred stock. True False 6. Changes in accounting estimates are accounted for in current and future periods. True False 7. Earnings per share is the amount of income earned per share of a company's outstanding (weighted-average) common stock. True False 11-1 8. A stock option is also called a stock dividend. True False 9. Earnings per share is calculated by dividing the total number of common shares outstanding by net income. True False Corporate Reporting and Analysis True / False Questions 1. A corporation is a separate legal entity from its owners. True False 2. Authorized stock is the total number of shares outstanding. True False 3. Minimum legal capital requirements often prohibit dividends when the dividends reduce stockholders' equity below the minimum specified amount. True False 4. A corporation can issue both common and preferred stock. True False 5. Common stock always carries a preference for receiving dividends over preferred stock. True False 6. Changes in accounting estimates are accounted for in current and future periods. True False 7. Earnings per share is the amount of income earned per share of a company's outstanding (weighted-average) common stock. True False 11-1 8. A stock option is also called a stock dividend. True False 9. Earnings per share is calculated by dividing the total number of common shares outstanding by net income. True False Corporate Reporting and Analysis True / False Questions 1. A corporation is a separate legal entity from its owners. True False 2. Authorized stock is the total number of shares outstanding. True False 3. Minimum legal capital requirements often prohibit dividends when the dividends reduce stockholders' equity below the minimum specified amount. True False 4. A corporation can issue both common and preferred stock. True False 5. Common stock always carries a preference for receiving dividends over preferred stock. True False 6. Changes in accounting estimates are accounted for in current and future periods. True False 7. Earnings per share is the amount of income earned per share of a company's outstanding (weighted-average) common stock. True False 11-1 8. A stock option is also called a stock dividend. True False 9. Earnings per share is calculated by dividing the total number of common shares outstanding by net income. True False Corporate Reporting and Analysis True / False Questions 1. A corporation is a separate legal entity from its owners. True False 2. Authorized stock is the total number of shares outstanding. True False 3. Minimum legal capital requirements often prohibit dividends when the dividends reduce stockholders' equity below the minimum specified amount. True False 4. A corporation can issue both common and preferred stock. True False 5. Common stock always carries a preference for receiving dividends over preferred stock. True False 6. Changes in accounting estimates are accounted for in current and future periods. True False 7. Earnings per share is the amount of income earned per share of a company's outstanding (weighted-average) common stock. True False 11-1 8. A stock option is also called a stock dividend. True False 9. Earnings per share is calculated by dividing the total number of common shares outstanding by net income. True False Corporate Reporting and Analysis True / False Questions 1. A corporation is a separate legal entity from its owners. True False 2. Authorized stock is the total number of shares outstanding. True False 3. Minimum legal capital requirements often prohibit dividends when the dividends reduce stockholders' equity below the minimum specified amount. True False 4. A corporation can issue both common and preferred stock. True False 5. Common stock always carries a preference for receiving dividends over preferred stock. True False 6. Changes in accounting estimates are accounted for in current and future periods. True False 7. Earnings per share is the amount of income earned per share of a company's outstanding (weighted-average) common stock. True False 11-1 8. A stock option is also called a stock dividend. True False 9. Earnings per share is calculated by dividing the total number of common shares outstanding by net income. True False [Show More]

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