The sale of gift cards by a company is a direct example of unearned revenues Sal

Question

The sale of gift cards by a company is a direct example of unearned revenues Sales tax payable current portion of long term debt. Contingencies. Which of the following statements regarding the corporate form of business is correct? The disadvantages are that generating capital is difficult and that owners have limited liability Disadvantages are that the business is subject to government regulations and double taxation on its income. One disadvantage is but ownership is easy to transfer All of these The corporation's own stock that has been issued and then repurchased by the company is referred to as preferred stock Authorized stock Treasury stock Common stock In terms of total sales, assets, and earnings, the dominant form of business organization is the sole proprietorship partnership corporation limited liability company (LLC) common stockholders usually have all of the following right except To receive dividends when declared to share in the distribution of assets to elect boned of directors The purchase of treasury stock is classified in the statement of cash flows as a(n) Operating activity Investing activity Financing activity The issuance of notes payable for borrowing is classified in the statement of cash flows as a(n): Operating activity Investing activity Financing activity Noncash activity.

Explanation / Answer

Answer to Question No.40

Option A is correct.-Unearned Revenue

Answer to Question No.41

Option D IS Correct.

Answer to Question No.42

Option C ,Treasury stock is correct.

Answer to Question No.43

Option D, Limited liabilities Company is correct.

Answer to Question No.44

Option D,To participate in the day to day activitoes is correct.

Answer to Question No.45

Option A, Ability to raise capital is correct.

Answer to Question No.46

option B, Investing activity is correct .

Answer to Question No.47

Option A, Operating activity is correct.

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