Corporate Dissolution Quiz

What form must a dissolving corporation file with the IRS?

In Florida, how long does a corporation have to revoke its dissolution after voluntarily dissolving?

Who can initiate a judicial dissolution of a corporation?

What is the term for a suit brought by one or more shareholders to enforce a right or remedy of the corporation when the officers fail to take action?

What are the three main causes of derivative shareholder actions?

What is the term for a suit that may be brought if an individual shareholder is injured by an action of the corporation?

What are shareholders allowed to inspect?

Under what circumstances may a court dissolve a corporation on its own initiative?

What is the term for a suit that may be brought when numerous parties have the same claim against a corporation?

What form is filed with the IRS by a dissolving corporation?

What is stock sold for less than par value referred to as?

What are shares that are not fully paid referred to as?

What account represents the permanent investment capital of a corporation?

What is the term for the total dollar market value of all of a corporation’s outstanding shares?

In Florida, the name of a dissolved corporation cannot be used by another corporation for how long?

What is the typical maximum period for a voting trust?

In Florida, a corporation may be administratively dissolved if it is without a registered agent or registered office for how long?

What chapter of the Florida Statutes governs corporations?

What is the tax rate for the Florida documentary stamp tax on the issuance of corporate stock?

What is the name of the reserve account set aside by a corporation for the future redemption of stock?

Holders of this stock are entitled to back payments of missed dividends if the board of directors fails to distribute dividends in a particular quarter. What is this stock?

What are the two exceptions to the requirement of shareholder vote on a merger?

What are the two major types of equity securities?

What is the term for the number of shares sold to shareholders?

What is stock issued without stock certificates referred to as?

What is another name for the income statement?

What action is typically taken to increase the price of shares?

What is the term used for a subdivision of a class of stock?

What is the term for the procedure that allows a corporation to become a different type of business entity?

What is the term used when a parent corporation is merged into a subsidiary?

What is the first thing that should be done at any corporate meeting?

What are the two major types of shareholder voting agreements?

What is the term for an unsecured debt instrument?

What is the interest rate paid on a bond referred to as?

What is a discounted bond?

What is a zero coupon bond?

What is the most common structural change in a corporation?

If a plan of merger is approved, what must the surviving corporation file with its state of domicile?

What consolidates all past amendments with original articles of incorporation into a new document?

Shareholders purchasing shares become holders of equity securities.

Stock sold for less than par value is called fractional stock.

Authorized shares refers to the number of shares sold to shareholders.

A cash dividend is the most common corporate distribution.

Shareholders of a Subchapter S corporation must report and pay taxes upon their proportionate share of the corporation’s entire income, regardless of whether they have received distributions.

A property dividend is reported to the IRS based on the book value.

Bonds and debentures are types of equity securities.

Treasury shares cannot receive dividends.

Market capitalization is the total dollar market value of all of a corporation’s outstanding shares.

A share dividend changes the proportionate stock ownership of each shareholder.

The two major types of equity securities a corporation may issue are common stock and preferred stock.

Preferred stock may be subject to certain limitations.

Ex-dividend is paid to the shareholder who purchases stock after a dividend is declared.

Share dividends are taxable at the time the shareholder receives the shares.

A debenture is a secured debt instrument.

Each series of stock can have different rights and limitations as long as they are identical for all shares within a series.

Holders of common stock have voting, dividend, and liquidation rights, but not option rights.

Scrip represents a percentage of a full share.

Reverse stock splits are used to increase the price of shares, not lower it.

The date upon which the principal is returned to the bondholder is the maturity date, not the date upon which interest is paid.

Nonqualified stock options receive special tax treatment, but incentive stock options do not.

Corporate accounting typically divides capital into stated capital, capital surplus, and earned surplus, not earned surplus, retained earnings, and capital surplus.

A stock split is a taxable event to the shareholder until the shareholder sells the shares of stock.

A debt security holder has the right to participate in the management of the corporation and to receive profits.

Stock sold for less than par value is referred to as this

If shares that are not fully paid are issued, they are referred to as this

This account represents the permanent investment capital of a corporation

This is the term for the total dollar market value of all of a corporation’s outstanding shares

In Florida, the name of a dissolved corporation cannot be used by another corporation for this time period

Shareholders may inspect these three corporate records.

This is the term for a suit that may be brought when you have numerous parties who have the same claim against a corporation.

This is the term for a suit that may be brought if an individual shareholder is injured by an action of the corporation.

This is the term for a suit brought by one or more shareholders to enforce a right or remedy of the corporation when the officers of the corporation who would normally bring such a suit fail or refuse to take action.

These are the three main causes of derivative shareholder actions.

Whenever a corporation has been formed in one state and prefers to be governed by the laws of another state, it changes its state of domicile by filing this

These are the two exceptions to the requirement of shareholder vote on a merger

These are the two major types of equity securities

This term refers to the number of shares sold to shareholders

Stock issued without stock certificates is referred to as this

Any action taken at a corporate meeting requires _________.

Make a determination that the requisite quorum is present to conduct business

A voting trust and a pooling agreement is called.

Shareholders of a Subchapter S corporation must report and pay taxes upon their proportionate share of the corporation’s entire income, regardless of whether they have received distributions.

A property dividend is reported to the IRS based on the book value.

Bonds and debentures are types of equity securities.

A cash dividend is the most common corporate distribution.

Market capitalization is the total dollar market value of all of a corporation’s outstanding shares.

Ex-dividend is paid to the former owner, not to the shareholder who purchases stock after a dividend is declared.

Debenture is a secured debt instrument.

Holders of common stock have option rights.

Scrip represents a percentage of a full share.

Reverse stock splits are used to increase the price of shares, not lower it.

Shareholders of a Subchapter S corporation must report and pay taxes upon their proportionate share of the corporation’s entire income, regardless of whether they have received distributions.

A property dividend is reported to the IRS based on the book value.

Bonds and debentures are types of equity securities.

Preferred stock may be subject to certain limitations.

A stock split is a taxable event to the shareholder until the shareholder sells the shares of stock.

Ex-dividend is paid to the former owner, not to the shareholder who purchases stock after a dividend is declared.

Share dividends are non-taxable at the time the shareholder receives the shares.

A debenture is an unsecured debt instrument, not a secured one.

Each series of stock can have different rights and limitations, as long as they are identical for all shares within a series.

Reverse stock splits are used to increase the price of shares, not lower it.

This is a term for a disproportionate debt to equity ratio.