ACCT 212 Week 6 Quiz

ACCT 212 Week 6 Quiz | Devry University

Question 1

 (CO 7) Stockholders of a corporation directly elect the  

A.      board of directors.  

B.      president of the corporation.  

C.      chief financial officer of the corporation.  

D.      chairperson of the board.

Question 2

 (CO 7) If a corporation has only one class of stock, it is understood to be  

A.      preferred stock.  

B.      common stock.  

C.      contributory stock.  

D.      equity stock.

Question 3

 (CO 7) The difference between the issue price of the stock and the par value of the stock is  

A.      market value.  

B.      par value.  

C.      additional paid-in capital.  

D.      preferred stock.

Question 4

 (CO 7) Stock that a corporation purchases from shareholders is called  

A.      treasury stock.  

B.      authorized stock.  

C.      issued stock.  

D.      outstanding stock.

Question 5

 (CO 7) The authority to declare a dividend lies with the  

A.      CFO.  

B.      shareholders.  

C.      SEC.  

D.      board of directors.

Question 6

 (CO 7) The amount of owners' equity attributable to each share of stock is known as the  

A.      earnings per share.  

B.      book value per share.  

C.      market value per share.  

D.      preferred value per share.

Question 7

 (CO 1) The main purpose of the statement of cash flows is to  

A.      provide information about the cash receipts and cash payments during a period.  

B.      provide information about the investing and financing activities during a period.  

C.      prove that revenues exceed expenses if there is a net income.  

D.      assist banking relationships.

Question 8

 (CO 1) The statement of cash flows will not report  

A.      the number of checks not written at the end of the period. 

B.      how cash was used in the current period. 

C.      changes in the cash balance for the current period.  

D.      the sources of cash in the current period.

Question 9

 (CO 1) The three types of activities reported on the statement of cash flows are  

A.      operating, investments, and financing.  

B.      operating, investing, and free flow.  

C.      operating, investing, and financing.  

D.      operating, indirect, and direct.

Question 10

 (CO 1) Investing activities include  

A.      obtaining cash from creditors.

B.      selling an old asset.  

C.      obtaining capital from owners.  

D.      repaying borrowed money.