1The costs of bringing a corporation into existence, including...
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Accounting
1The costs of bringing a corporation into existence, including legal fees, promoter fees and amounts paid to obtain a charter are called: A. Minimum legal capital B. Stock subscriptions C. Organization costs D. Cumulative costs E. Prepaid fees 2. The board of directors of a corporation: A. Are elected by the corporate registrar B. Are responsible for day-to-day operations of the business o not have the power to bind the corporation to contracts, due to lack of mutual agency D. May not also be executive officers of the corporation, due to the separate entity principle E. A re responsible for and have final authority for managing corporate activities 3. The total amount of stock that a corporation's charter allows it to issue is referred to as: A. Issued stock B. Outstanding stock C. Common stock D. Preferred stock E. Authorized Stock 4. Par value of a stock refers to the: A. Issue price of the stock B. Value assigned to a share of stock by the corporate charter C. Market value of the stock on the date of the financial statements D. Maximum selling price of the stock E. Dividend value of the stock
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