ACCT1105 Financial Accounting

Term 1 Unit 1 Discussions

*LM 4-Corporations 

1. Define a corporation and mention two characteristics of a corporation.

2. Explain the following:

a. Legal Entity

b. Stockholder

3. Define an organizational chart of a corporation

4. Define the following concepts:

a. Stockholder equity

b. Pain-in capital

c. Retained earnings

d. Dividend

e. Stock

5. Explain your understanding of the following:

a. Outstanding stock

b. Par value

c. Common stock

d. Preferred stock

e. Cummulative preferred stock

f. Premium

g. Discount

h. Stock split

i. Treasury stock

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