When only one class of stock is issued by a corporation, it should be termed   Authorized stock Treasury stock Common stock Preferred stock None of these

Question 1

True or False: An S Corporation will not be treated as having more than one class of stock solely because of differences in voting rights (i.e. both voting and non-voting common stock).

Which of the following statements is false? a. one of the disadvantages of incorporation is the problem of "double taxation" b. the number of issued shares is equal to the total shares sold to date minus those held in treasury stock c. common stock is part of stockholders equity d. when the stock has a par value, the amount recorded in the common stock account is the par amount times the number of shares issued