Answer:
1. TRUE.
A corporation truly is separate from its owners.
2. TRUE.
As a result of this separation, it has most of the rights and privileges of a person.
3. FALSE.
Most of the largest American companies are public held corporations which is how they got the resources needed for expansion.
4. TRUE.
As corporations are separate entities, they can do all these things.
5. FALSE.
The net income of a corporation is taxed as separate from the income of the owners.
6. FALSE.
Creditors only have a legal claim to the assets of the corporation and not its owners because they are separate entities.
7. FALSE.
The transfer of stock requires the permission of the stockholder selling the stock and the party buying. This is a two party transaction that does not require company approval.
8. FALSE.
The shareholders own the corporation. The Board of Directors simply represent the shareholders.
9. TRUE.
The Chief Accounting Officer truly is the controller.
10 . FALSE.
Corporations are subject to more regulations than partnerships and proprietorships.
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Number b i hope this helps
Answer:
Net cash flows from financing activities $18.7
Explanation:
CREATIVE SOUND SYSTEMS
Statement of Cash Flows (partial)
Cash Flows from Financing ActivitiesIssuance of common stock $ 39.4
Less Purchase of treasury stock(20.7)
Net cash flows from financing activities $18.7
Therefore the amount that Creative Sound Systems should report as net cash flows from financing activities will be $18.7