ACCT 212 DeVry Week 6 Complete Work Latest
ACCT 212 DeVry Week 6 Discussion 1
When forming a company, the options are sole proprietor, partnership, and corporation. Most choose corporation. Why is the corporate form seen to be best? What rights do the stockholders have?
ACCT 212 DeVry Week 6 Discussion 2
Let’s start with gaining an understanding of the Statement of Cash Flows. From Exercise 12-17A, select one of the journal entries and explain how the accounts in the journal entry impact the statement of cash flows.
Acct 212 DeVry Week 6 Checkpoint
(TCO 7) The authority structure of a corporation would show the
board of directors delegating to the stockholders.
president delegating to the board of directors.
chief financial officer delegating to the board of directors.
stockholders delegating to the board of directors.
Question 2. Question :
(TCO 7) The basic unit of ownership for a corporation is
Question 3. Question :
(TCO 7) The price that the stockholder pays to acquire stock from the corporation is the
Question 4. Question :
(TCO 7) Stock that a corporation purchases from shareholders is called
Question 5. Question :
(TCO 7) The authority to declare a dividend lies with the
Board of Directors.
Question 6. Question :
(TCO 7) If stock is issued for an asset other than cash, the asset should be recorded on the books of the corporation at
fair market value.
par value of the stock.
Question 7. Question : (TCO 1) The main purpose of the statement of cash flows is to
provide information about the cash receipts and cash payments during a period.
provide information about the investing and financing activities during a period.
prove that revenues exceed expenses if there is a net income.
assist banking relationships.
Question 8. Question : (TCO 1) The best gauge of a company’s ability to produce ample cash to continue as a going concern is net cash provided by
Question 9. Question : (TCO 1) Which of the three types of activities reported on the statement of cash flows is the most critical?
Investing and financing activities
Question 10. Question : (TCO 1) Usually, the most important category on the statement of cash flows is cash flows from