Can anyone help me with this accounting quiz?

[jan46]

The tax laws can be a significant disadvantage of the corporate form of business.
A) True
B) False
2.
33
A 3-for-1 common stock split will increase total stockholders' equity but reduce the par or stated value per share of common stock.
A) True
B) False
The Paid-in Capital in Excess of Par Value is increased in the accounting records when
A) the number of shares issued exceeds par value.
B) the stated value of capital stock is greater than the par value.
C) the market value of the stock rises above par value.
D) capital stock is issued at an amount greater than par value.
4.
143
Which of the following statements regarding the date of a cash dividend declaration is not accurate?
A) The dividend can be rescinded once it has been declared.
B) The corporation is committed to a legal, binding obligation.
C) The board of directors formally authorizes the cash dividend.
D) A liability account must be increased.
5.
170
Placing a restriction on retained earnings will
A) assure that a company has sufficient cash for a specific purpose.
B) increase total stockholders' equity.
C) communicate to readers a portion of retained earnings is unavailable for dividends.
D) decrease total stockholders' equity.
All of the following statements regarding retained earnings are true except
A) retained earnings represents a claim on cash.
B) a debit balance in Retained Earnings indicates a deficit.
C) some companies may restrict availability of retained earnings for dividends.
D) retained earnings is net income that a company retains in a business.
7.
53
The two ways that a corporation can be classified by ownership are
A) publicly held and privately held.
B) stock and non-stock.
C) inside and outside.
D) majority and minority.
If Pratt Company issues 1,000 shares of $5 par value common stock for $70,000, the account A) Common Stock will be credited for $65,000.
B) Paid-in Capital in Excess of Par Value will be credited for $70,000.
C) Paid-in Capital in Excess of Par Value will be credited for $75,000.
D) Cash will be debited for $70,000.
10.
166
If the board of directors authorizes a $100,000 restriction of retained earnings for a future plant expansion, the effect of this action is to
A) decrease total assets and total stockholders' equity.
B) increase stockholders' equity and to decrease total liabilities.
C) decrease total retained earnings and increase total liabilities.
D) reduce the amount of retained earnings available for dividend declarations.
Which of the following statements concerning taxation is accurate?
A) Partnerships pay state income taxes but not federal income taxes.
B) Corporations pay federal income taxes but not state income taxes.
C) Corporations pay federal and state income taxes.
D) Only the owners must pay taxes on corporate income.
13.
160
The per share amount normally assigned by the board of directors to a small stock dividend is A) the market value of the stock on the date of declaration.
B) the average price paid by stockholders on outstanding shares.
C) the par or stated value of the stock.
D) zero.
18.
131
The net effects on the corporation of the declaration and payment of a cash dividend are to
A) decrease liabilities and decrease stockholders' equity.
B) increase stockholders' equity and decrease liabilities.
C) decrease assets and decrease stockholders' equity.
D) increase assets and increase stockholders' equity.
19.
59
The officer that is generally responsible for maintaining the cash position of the corporation is the A) controller.
B) treasurer.
C) cashier.
D) internal auditor.

[albanwr26]

Use your study materials over the weekend and then be ready when you go back to the class room Monday or your next day of school for this purpose.
And now back to your study material and the class room Monday or your next school day and pay attention during the class and ask questions so that the teacher instructor can help you to get a good understanding of how to get your correct answer yourself without any outside help being available to you at that time in your life.
Hope that you find the above enclosed information useful. 12/10/2011