I. Creditors have voice in management, thru its voting power. II. Shareholders are prioritized during liquidation process of the corporation. It is superior to debt in terms of claims from corporate s assets. A• FT B• TT C• FF D• TF
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I. Creditors have voice in management, thru its voting power.
II. Shareholders are prioritized during liquidation process of the corporation. It is superior to debt in terms of claims from corporate s assets.
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- Limited liability refers to an owner's liability for which of the following? The amount invested in the entity II. The liabilities of the corporation that the owner has personally guaranteed III. All the outstanding liabilities of the corporation IV. Only the corporation's loans from financial institutions Oa. Statements I, II, and IV are correct. Ob. Only statement III is correct. Oc. Only statement I is correct. Od. Statements II and IV are correct. Oe. Statements I, II, III, and IV are correct.What 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 mutualWhen a company acquires an affiliated company’s debt instruments from a third party, how is the gain or loss on extinguishment of the debt calculated? When should this balance be recognized?
- 1. It refers to the capital of a corporation that cannot be withdrawn until final liquidation. 2. Those who compose the corporation whether shareholders or members or both. 3. This occurs when there is a change in the capital structure of the entity. 4. The residual interest of owners in the net assets of a corporation. 5. It is the earmarking of retained earnings for a certain purpose which may be legal, contractual or voluntary. choices:Which type of business organization provides the least amount of protection forbankers and other creditors of a company?a. Partnershipb. Corporationc. Proprietorshipd. Both a and cAn individual provides accounting services to a corporation in exchange for stock. the shareholder must recognize income and the corporation may deduct or capitalize the expenditure as would be deemed appropriate. A. True B. False
- which of the following is a control right? shareholders right to elect the members of the board of directors and to receive the remaining liquidated value of assets shareholders rights to receive the remaining liquidated value of assets shareholders right to elect the members of the board of directors bondholders right to receive interest payments5. A gain or loss may arise from which of the following? a. The initial recognition of the debt and equity components of a compound financial instrument. b. The purchase, sale, issue or cancellation of the entity's own equity instruments. c. The conversion of bonds into the entity's own equity instrument. d. The settlement of a liability at an amount below or avo its carrying amount.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
- Identify if statements are true for the corporate form of organization. Owners have unlimited liability for corporate debts.Whether a corporation adopts IFRS or ASPE accounting rules affects the accounting cycle. True \sFalse5.According to PFRS9 Financial Instruments, a financial instrument is recognized when the entity purchases investments in equity securities when the entity becomes a party to the contractual provisions of the instrument when the entity has a codified business model with an objective of holding assets in order to collect contractual cash flows all of these