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1) Which one of the given would not be considered advantage of corporate form of organization?

a. Limited liability of stockholders

b. Separate legal existence

c. Continuous life

d. Government regulation

2) Which of the given factors doesn't affect initial market price of a stock?

a. The company's anticipated future earnings

b. The par value of stock

c. The current state of the economy

d. The expected dividend rate per share

3) Specialty Packaging Corporation began business in 2007 by issuing 20,000 shares of $5 par common stock for $8 per share and 5,000 shares of 6%, $10 par preferred stock for par. At year end, common stock had a market value of $10. On its December 31, 2007 balance sheet, Specialty Packaging would report

a. Common Stock of $200,000.

b. Common Stock of $100,000.

c. Common Stock of $160,000.

d. Paid-in Capital of $150,000.

4) Current liabilities are due:

a. but not receivable for more than one year.

b. but not payable for more than one year.

c. and receivable within one year.

d. and payable within one year.

5) In recent year Dillon Corporation had net income of $130,000, interest expense of $20,000, and tax expense of $30,000. Determine Dillon Corporation's times interest earned ratio for the year?

a. 6.5

b. 7.5

c. 8

d. 9

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M922012

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