1. Which of the following does not affect retained earnings? Choices; Actual payment/distribution of dividends. Board of directors’ decision relating to recapitalization. Adjustment of prior period’s profits Profit of a corporation during the period.

1. Which of the following does not affect retained earnings? Choices; Actual payment/distribution of dividends. Board of directors’ decision relating to recapitalization. Adjustment of prior period’s profits Profit of a corporation during the period.

SWFT Corp Partner Estates Trusts

42nd Edition

ISBN:9780357161548

Author:Raabe

Publisher:Raabe

Chapter7: Corporations: Reorganizations

Section: Chapter Questions

Problem 9DQ

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Question

1. Which of the following does not affect retained earnings?

Choices;

Actual payment/distribution of dividends.

Board of directors’ decision relating to recapitalization.

Adjustment of prior period’s profits

Profit of a corporation during the period.

2. The following are characteristics of a corporation except

Choices;

It is an artificial being

It has right of succession

Unlimited Liability

It is created by operation of law

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