Multiple choice Question 136 when admitting a new partner by investment, a bonus to old partners is sometimes justified due to the fact that goodwill may exist and it is not reflected in the accounts. Is normally unjustified because book values clearly reflect partnership net worth. Results if the debit come cash is same to the brand-new partner's resources credit. Results if the debit to cash is less than the new partner's capital credit. O
Multiple selection Question 153 i beg your pardon of the following statements is correct? Neither wages to partners nor attention on partners' funding are prices of the partnership. Wages to partners and interest on partners' resources are prices of the partnership. Interest on partners' capital is an expense of the partnership but not salaries to partners. Salaries to partners are expenses of the partnership yet not attention on partners' capital.
Multiple an option Question 48 In a partnership, shared agency way that partners must pay counting on a shared or merged basis. Each partner acts upon his own behalf when engaging in partnership company an plot by a partner is judged together binding on various other partners depending upon whether the act appears to be appropriate for the cooperation the plot of any kind of partner is binding top top all various other partners, only if partners act within your scope of government
Multiple selection Question 105 When wanted stock is cumulative, preferred dividends not asserted in a period are referred to as dividends in arrears. Thought about a liability. Distribution of earnings. Never ever paid.
Multiple an option Question 106 i m sorry of the complying with is no a right or preference connected with wanted stock? O choice to corporate assets in instance of liquidation To receive dividends in arrears before common stockholders get dividends 0 an initial claim to dividends The best to vote
Multiple choice Question 117 The acquisition of treasury stock by a coporation, group O needs that a gain or lose be well-known on the earnings statement. Reduce its complete assets and total stockholders' equity. O has actually no impact on total assets and also total stockholders' equity. Increases its complete assets and also total stockholders' equity.
Multiple choice Question 122 Treasury share is an) contra asset account. Retained earnings account. Contra stockholders' same account. Legacy account.
Multiple choice Question 135 info that is not normally reported because that each class of stock on the balance sheet is share authorized the sector value. The par value. Share issued.
Multiple an option Question 55 The capacity of a coporation, group to acquire capital is enhanced because of minimal liability and ease of re-publishing transferability much less than a partnership. Limited because of the restricted life of the corporation about the same as a partnership.
Multiple selection Question 33 Which among the complying with is not vital in order because that a corporation to salary a cash dividend? statements of dividend by the plank of directors Retained income Adequate cash Approval of stockholders
Multiple an option Question 51 dividend Payable is classified as a current liability. Stockholders' same account. Irreversible liability. Contra stockholders' same account to retained Earnings.
130. D. The transaction is a an individual transaction between thepurchaser and also the selling partner.
You are watching: Which of the following is not a right or preference associated with preferred stock?
136. A. Is sometimes justified due to the fact that goodwill may exist and itis not reflected in the accounts.
137. B. The basis of revenue ratios before the admission of newpartner.
153. A. Neither the earnings to partners nor the interest onpartners' capital are costs of the partnership .
48 . C. An act by a partner is judged together binding ~ above otherpartners depending on whether the act appears to be appropriate forthe partnership.
105. A, called as dividend in arrears.
106. D the ideal to vote
117. B. Decrease in full assets and also total shareholders'equity.
122. C. Contra shareholders equity account
135. B.market value
55 . A. Magnified because that the minimal liability and ease ofshare transferability.
125. C. Statements date
33 . D. Approval that stockholders
49 .c no entry is required
51 .a. Existing liability.
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