(TCO 4) Common shareholders usually have all of the following rights, except
Student Answer:
to share in the profits.
to share in assets upon liquidation.
to elect a board of directors.
to participate in the day-to-day operations.
Question 2.
Question :
(TCO 4) Outstanding common stock is
Student Answer:
stock that is performing well on the New York Stock Exchange.
stock that has been authorized by the state for issue.
stock held in the corporate treasury.
Question 3.
Question :
(TCO 4) Our company declared a property dividend to give marketable securities to its common stockholders. The securities had cost our company $14 million and currently have a fair value of $32 million. Which would be included in recording the property dividend declaration?
Student Answer:
Increase in a liability for $32 million
Decrease in retained earnings for $14 million
Decrease in marketable securities by $32 million
All of the above
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