CH 13 Quiz

Which characteristic of a corporation is a disadvantage?

• Mutual Agency

• Double taxation

• Limited Liability

• Non are disadvantages

What is the name of the Major League Pickleball trophy?

• The Prichard Cup

• The Sterling Trophy

• The Bainbridge Cup

• The Big Bell

The two basic sources of stockholders' equity are

• assets and equity

• preferred and common

• retained earnings and dividends

• paid in capital and retained earnings

This family-owned pickleball brand is named after a mountain range near their home.

• Sierra

• Sabre

• Savoy

• Selkirk

Suppose Yummy Treats Bakery issues common stock in exchange for a building. Yummy Treats Bakery should record the building at

• The par value of the stock given

• its book value

• its market value

• a value assigned by the board of directors

There is no restriction on how many times the ball can bounce during a drop serve in pickleball.

• True

• False

A company's own stock that is has issued and repurchased is called

• outstanding stock

• dividend stock

• issued stock

• treasury stock

In pickleball, the proper way to call the score in a doubles match to start a game is

• "zero, zero, one"

• "zero, zero, start"

• "zero, zero"

• "zero, zero, two"

In pickleball, a tournament director may require a player to change their apparel if they deem it to be inappropriate.

• True

• False

Which of the following is not included in continuing operations?

• Loss on the sale of equipment

• Gain on the sale on a segment of the business that has been discontinued

• Salaries expense

• Interest revenue