A Business Is a ____When It Has the Ability to Take

question 436

Multiple Choice

A business is a ____when it has the ability to take some of the nonpaying customers' property to satisfy the debt.

• A) general creditor
• B) secured creditor
• C) collateral creditor
• D) real creditor
• E) financed creditor

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Definitions:

Cash Dividend

A distribution of a portion of a company's earnings, decided by the board of directors, to a class of its shareholders in cash.

State Corporation Laws

Regulations established by individual states governing the formation, operation, and dissolution of corporations within their jurisdiction.

Comprehensive Income Items

Components of comprehensive income that represent all changes in equity during a period except those resulting from investments by owners and distributions to owners.

Revaluation Surplus

The increase in value of an asset, over its previously recorded cost, reflected in the financial statements.