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ACCT 212 DeVry Week 6 Complete Work Latest

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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

Question 1:

(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

dividends.

stock.

retained earnings.

capital.

Question 3. Question :

(TCO 7) The price that the stockholder pays to acquire stock from the corporation is the

Par price.

Authorized price.

Offering price.

issue price.

Question 4. Question :

(TCO 7) Stock that a corporation purchases from shareholders is called

treasury stock.

authorized stock.

issued stock.

outstanding stock.

Question 5. Question :

(TCO 7) The authority to declare a dividend lies with the

CFO.

Shareholders.

SEC.

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.

cost.

par value of the stock.

zero.

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

operating activities.

investing activities.

financing activities.

analytical activities

Question 9. Question : (TCO 1) Which of the three types of activities reported on the statement of cash flows is the most critical?

Investing activities

Operating activities

Financing activities

Investing and financing activities

Question 10. Question : (TCO 1) Usually, the most important category on the statement of cash flows is cash flows from

operating activities.

investing activities.

financing activities.

noncash activities.