Phoenix ACC 291 Week 4 Quiz Chapter 10 Answers (2017)
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<strong>Phoenix</strong> <strong>ACC</strong> <strong>291</strong> <strong>Week</strong> 4 <strong>Quiz</strong><br />
<strong>Chapter</strong> <strong>10</strong> <strong>Answers</strong> (<strong>2017</strong>)<br />
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answers-<strong>2017</strong>/<br />
<strong>Phoenix</strong> <strong>ACC</strong> <strong>291</strong> <strong>Week</strong> 4 <strong>Quiz</strong> <strong>Chapter</strong> <strong>10</strong> <strong>Answers</strong> (<strong>2017</strong>)<br />
1. The stockholders of a corporation have unlimited liability.<br />
2. Which of the following is a disadvantage of the corporate business form?<br />
3. If a corporation issues 1,000 shares of $3 par common stock for $7 a share, how much is the legal<br />
capital?<br />
4. For what reason might a company acquire treasury stock?<br />
5. Which one of the following is not a right of preferred stockholders?<br />
6. If everything else is held constant, what will cause earnings per share to increase?<br />
7. Which of the following does not increase the return on common stockholders’ equity?<br />
8. When a stock dividend is declared, which of the following accounts is debited?<br />
9. Jaylo Inc. had net income of $500,000, net sales of $<strong>10</strong>,000,000 and paid cash dividends of $200,000<br />
to the common stockholders. How much is Jaylo’s payout ratio?<br />
<strong>10</strong>. Consider the following data for a corporation:<br />
Net income $800,000<br />
Preferred stock dividends $50,000<br />
Market price per share of stock $25<br />
Average common stockholders’ equity $4,000,000<br />
Cash dividends declared on common<br />
$20,000<br />
stock<br />
11.<br />
What is the return on common stockholders’ equity?
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