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Match the Following Descriptions to Stockholders Equity Concepts

Question 171

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Match the following descriptions to stockholders equity concepts

Premises:

Responses:

a company whose shares can be bought and sold on a stock exchange

corporation

creditors cannot pursue stockholder’s personal assets to satisfy claims

publicly held corporation

rules and procedures for corporate conduct of its affairs

bylaws

formally creates a corporation

privately held corporation

company whose shares are not bought or sold on a stock exchange

articles of incorporation

responsible for establishing corporate policies

limited liability

a legal entity, separate from the people who create and operate it

board of directors

earnings of a company distributed to stockholders

dividends

Premises:

a company whose shares can be bought and sold on a stock exchange

creditors cannot pursue stockholder’s personal assets to satisfy claims

rules and procedures for corporate conduct of its affairs

formally creates a corporation

company whose shares are not bought or sold on a stock exchange

responsible for establishing corporate policies

a legal entity, separate from the people who create and operate it

earnings of a company distributed to stockholders

Responses:

corporation

publicly held corporation

bylaws

privately held corporation

articles of incorporation

limited liability

board of directors

dividends

Correct Answer:

Premises:

Responses:

a company whose shares can be bought and sold on a stock exchange

creditors cannot pursue stockholder’s personal assets to satisfy claims

rules and procedures for corporate conduct of its affairs

formally creates a corporation

company whose shares are not bought or sold on a stock exchange

responsible for establishing corporate policies

a legal entity, separate from the people who create and operate it

earnings of a company distributed to stockholders

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