The earned surplus test for the issuance of dividends by a corporation is less restrictive than the surplus test.
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Q18: A shareholder of one-third of all the
Q19: Treasury stock is issued but not outstanding.
Q20: Dividends are ordinarily paid in cash, but
Q21: The earned surplus test does not permit
Q22: A corporation may purchase its own shares
Q24: When a corporation issues no par value
Q25: Earned surplus would include undistributed profits, income,
Q26: The board of directors may issue bonds
Q27: "Capital surplus" would be credited with the
Q28: The board of directors of Case Corporation
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