Financial Accounting (12th Edition) (What's New in Accounting)
12th Edition
ISBN: 9780134725987
Author: C. William Thomas, Wendy M. Tietz, Walter T. Harrison Jr.
Publisher: PEARSON
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Question
Chapter 10, Problem 10.57Q
To determine
To identify: Which of the given option is the characteristic of a corporation.
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Students have asked these similar questions
Which of the following is a characteristic of a corporation?a. No income taxb. Limited liability of stockholdersc. Mutual agencyd. Both b and c
Which of the following characteristics of a corporation limits a stockholder's loss to the amount of his or her investment in the stock of the corporation?
Question 7Answer
a.
Separate legal entity
b.
Separation of ownership and management
c.
Transferability of ownership
d.
Limited liability
Characteristics of a corporation include
a.shareholders who are mutual agents
b.direct management by the shareholders (owners)
c.shareholders who have limited liability
d.its inability to own property
Chapter 10 Solutions
Financial Accounting (12th Edition) (What's New in Accounting)
Ch. 10 - The two main categories of stockholders equity are...Ch. 10 - Prob. 2QCCh. 10 - Stockholders of a corporation directly elect the...Ch. 10 - The par value of a share of common stock a. is...Ch. 10 - Prob. 5QCCh. 10 - If a corporation issues 1,000 shares of 1 par...Ch. 10 - Prob. 7QCCh. 10 - Sandusky Corporation purchased 3,000 shares of its...Ch. 10 - Graves Corporation issued 50,000 shares of 1 par...Ch. 10 - Prob. 10QC
Ch. 10 - For cash dividends, the journal entry on the date...Ch. 10 - Prob. 12QCCh. 10 - Prob. 13QCCh. 10 - Prob. 14QCCh. 10 - Prob. 15QCCh. 10 - Prob. 16QCCh. 10 - Prob. 10.1ECCh. 10 - Prob. 10.1SCh. 10 - (Learning Objective 1: Describe characteristics of...Ch. 10 - Prob. 10.3SCh. 10 - Prob. 10.4SCh. 10 - (Learning Objective 2: Record issuance of stock...Ch. 10 - Prob. 10.6SCh. 10 - Prob. 10.7SCh. 10 - Prob. 10.8SCh. 10 - Prob. 10.9SCh. 10 - Prob. 10.10SCh. 10 - (Learning Objective 4: Divide cash dividends...Ch. 10 - Prob. 10.12SCh. 10 - (Learning Objective 6: Prepare the stockholders...Ch. 10 - (Learning Objective 5: Use stockholders equity...Ch. 10 - (Learning Objective 5: Calculate book value per...Ch. 10 - (Learning Objective 5: Calculate and explain...Ch. 10 - (Learning Objective 5: Calculate return on assets...Ch. 10 - Prob. 10.18SCh. 10 - (Learning Objective 2. 5: Define and use various...Ch. 10 - Prob. 10.20SCh. 10 - Prob. 10.21SCh. 10 - Prob. 10.22SCh. 10 - (Learning Objective 1: Identify key terms...Ch. 10 - (Learning Objectives 2, 6: Account for issuance of...Ch. 10 - Prob. 10.25AECh. 10 - Prob. 10.26AECh. 10 - Prob. 10.27AECh. 10 - (Learning Objective 3: Account for the purchase...Ch. 10 - (Learning Objectives 2, 3, 4: Account for issuance...Ch. 10 - (Learning Objective 6: Report stockholders equity...Ch. 10 - Prob. 10.31AECh. 10 - LO 4 (Learning Objective 4: Calculate dividends on...Ch. 10 - Prob. 10.33AECh. 10 - Prob. 10.34AECh. 10 - LO 5 (Learning Objective 5: Calculate and...Ch. 10 - LO 4,6 (Learning Objective 4, 6: Analyze...Ch. 10 - (Learning Objective 5: Evaluate profitability)...Ch. 10 - Prob. 10.38AECh. 10 - LO 6 (Learning Objective 6: Use a companys...Ch. 10 - (Learning Objective 1: Identify key terms...Ch. 10 - (Learning Objectives 2, 6: Account for issuance of...Ch. 10 - Prob. 10.42BECh. 10 - Prob. 10.43BECh. 10 - (Learning Objectives 3, 6: Show how treasury stock...Ch. 10 - (Learning Objective 3: Account for the purchase...Ch. 10 - (Learning Objectives 2, 3, 4: Account for issuance...Ch. 10 - Prob. 10.47BECh. 10 - Prob. 10.48BECh. 10 - Prob. 10.49BECh. 10 - Prob. 10.50BECh. 10 - (Learning Objectives 2, 3, 4: Measure the effect s...Ch. 10 - Prob. 10.52BECh. 10 - (Learning Objective 5: Analyze alternative plans...Ch. 10 - (Learning Objective 5: Evaluate profitability)...Ch. 10 - Prob. 10.55BECh. 10 - Prob. 10.56BECh. 10 - Prob. 10.57QCh. 10 - Prob. 10.58QCh. 10 - Prob. 10.59QCh. 10 - Prob. 10.60QCh. 10 - Prob. 10.61QCh. 10 - Prob. 10.62QCh. 10 - Prob. 10.63QCh. 10 - Prob. 10.64QCh. 10 - Quill Corporation paid 28 per share to purchase...Ch. 10 - Prob. 10.66QCh. 10 - Prob. 10.67QCh. 10 - Prob. 10.68QCh. 10 - Prob. 10.69QCh. 10 - Prob. 10.70QCh. 10 - Prob. 10.71QCh. 10 - Prob. 10.72QCh. 10 - Prob. 10.73QCh. 10 - Prob. 10.74QCh. 10 - Prob. 10.75QCh. 10 - Prob. 10.76APCh. 10 - (Learning Objective 6: Report stockholders equity)...Ch. 10 - (Learning Objectives 2, 4: Analyze stockholders...Ch. 10 - (Learning Objectives 2, 3, 4: Account for stock...Ch. 10 - Prob. 10.80APCh. 10 - Prob. 10.81APCh. 10 - Prob. 10.82APCh. 10 - Prob. 10.83APCh. 10 - Prob. 10.84BPCh. 10 - Prob. 10.85BPCh. 10 - (Learning Objectives 2, 4: Analyze stockholders...Ch. 10 - (Learning Objectives 2, 3, 4: Account for stock...Ch. 10 - Prob. 10.88BPCh. 10 - Prob. 10.89BPCh. 10 - (Learning Objective 5: Differentiate financing...Ch. 10 - Prob. 10.91BPCh. 10 - Prob. 10.92CEPCh. 10 - Prob. 10.93CEPCh. 10 - Prob. 10.94CEPCh. 10 - Prob. 10.95CEPCh. 10 - (Learning Objectives 2, 3, 4, 6: Analyze...Ch. 10 - (Learning Objectives 2, 3, 4: Calculate impact of...Ch. 10 - Prob. 10.98DCCh. 10 - Prob. 10.99DCCh. 10 - Prob. 10.100EICCh. 10 - Prob. 10.101EICCh. 10 - (Learning Objectives 2, 3, 4, 5: Analyze common...Ch. 10 - (Learning Objectives 2, 3, 4: Analyze treasury...
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Similar questions
- Which of the following characteristics of a corporation limits a stockholder's loss to the amount of his or her investment in the stock of the corporation? a. Separate legal entity b. Separation of ownership and management c. Transferability of ownership d. Limited liabilityarrow_forwardWhich of the following characteristics of a corporation limits a stockholders losses to the amount of investment in the stock of the corporation? Transferability of ownership Limited liability Separate legal entityarrow_forwardWhat term is used to refer to denote that creditors usually may not go beyond the assets of the corporation to satisfy their claims? Group of answer choices unlimited liability limited liability double taxation mutualarrow_forward
- Which of the following characteristics best describes a corporation? a. A business with a single owner b. Is not taxed c. Stockholders not personally liable for entity’s debts d. Not a separate taxable entityarrow_forwardWhich characteristic of a corporation is a disadvantage? a. Mutual agency b. Double taxation c. Limited liability d. None are disadvantages.arrow_forwardWhich of the following is not considered to be an advantage of a corporation?a. Limited liability of stockholders for the corporation’s debtsb. Continuous lifec. Double taxationd. Ability to raise more capital than a partnership or proprietorshiparrow_forward
- Characteristics of a corporation include Group of answer choices shareholders who are mutual agents direct management by the shareholders (owners) its inability to own property shareholders who have limited liabilityarrow_forwardWho is liable for a corporation's debts and obligations? OA. the limited partners OB. the general partners OC. the corporation OD. the registered agent OE. the shareholdersarrow_forwardWhich activities changes equity but does not affect a corporation's assets and liabilities?arrow_forward
- Which characteristic of a corporation is a disadvantage? Mutual agency Double taxation Limited liability None are disadvantagesarrow_forwardExplain the corporate characteristic termed “no mutual agency” Explain the corporate characteristic termed limited liability. Explain the term outstanding stock.arrow_forwardWhich of the following is not an advantage of a corporation? O Double taxation Continuous life Transferable ownership rights Limited liabilityarrow_forward
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