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a5103755_cards_about_My_CPA_REGmodule25__Answer | [Question] In an absence of agreement, how are profits and losses shared under most state laws? under RULLCA? [Answer] | 1.in proportion to their capital contributions (assume this on the test unless the q mentions RULLCA) 2.divide profits and losses equally | [] | Flashcards about My CPA-REGmodule25 | Answer | http://www.studystack.com/flashcard-890623 | 5/1438042987135.9_20150728002307-00140-ip-10-236-191-2_737932452_3.json |
a5103755_cards_about_My_CPA_REGmodule25__Answer | [Question] What management interest does a member of an LLC have? What information does a member of a member managed LLC have the right to? Members of a non member managed LLC? [Answer] | 1.right to manage firm affairs, vote w/in firm(each member has equal voice) 2.bus info w/o demand to exercise their rights and duties (same for managers in manager-managed co) 3.on demand inspect info @reasonable time,@bus location for appropriate reaso | [] | Flashcards about My CPA-REGmodule25 | Answer | http://www.studystack.com/flashcard-890623 | 5/1438042987135.9_20150728002307-00140-ip-10-236-191-2_737932452_3.json |
a5103755_cards_about_My_CPA_REGmodule25__Answer | [Question] Can a member of an LLC assign financial interest in an LLC? What does the assignee receive? [Answer] | 1.Yes, unless otherwise specified 2.Only rights to assignors share of profits (member may NOT assign any other right without consent of other members) | [] | Flashcards about My CPA-REGmodule25 | Answer | http://www.studystack.com/flashcard-890623 | 5/1438042987135.9_20150728002307-00140-ip-10-236-191-2_737932452_3.json |
a5103755_cards_about_My_CPA_REGmodule25__Answer | [Question] Who requirements must there be to bound an LLC to a contract? Who has the authority in a member managed LLC? Manager managed LLC? [Answer] | 1.LLC must have authorized the contract under agency law or contract is made in ordinary course of business 2.Members 3.Managers | [] | Flashcards about My CPA-REGmodule25 | Answer | http://www.studystack.com/flashcard-890623 | 5/1438042987135.9_20150728002307-00140-ip-10-236-191-2_737932452_3.json |
a5103755_cards_about_My_CPA_REGmodule25__Answer | [Question] Can the authority of managers/members to bind LLC to contracts be restricted? What would proper notice to 3rd parties be? [Answer] | 1.Yes in statement of authority (filed with secretary of state) or operating agreement 2. statement of authority deemed proper if filed with secretary, operating agreement proper notice to 3rd parties if receive direct notification of restrictions | [] | Flashcards about My CPA-REGmodule25 | Answer | http://www.studystack.com/flashcard-890623 | 5/1438042987135.9_20150728002307-00140-ip-10-236-191-2_737932452_3.json |
a5103755_cards_about_My_CPA_REGmodule25__Answer | [Question] If a member or manager of an LLC makes a payment in the name of the LLC, must they be repaid? [Answer] | Yes the LLC must repay them | [] | Flashcards about My CPA-REGmodule25 | Answer | http://www.studystack.com/flashcard-890623 | 5/1438042987135.9_20150728002307-00140-ip-10-236-191-2_737932452_3.json |
a5103755_cards_about_My_CPA_REGmodule25__Answer | [Question] Who owes duty of loyalty and due care to LLC? What does duty of loyalty mean? Is the LLC owed fiduciary duties by members in member managed? managers in manager managed? [Answer] | 1.both members and managers 2.can't compete with company, deal with a party that has an adverse interest in the LLC 3.Yes by members 4.Yes by managers | [] | Flashcards about My CPA-REGmodule25 | Answer | http://www.studystack.com/flashcard-890623 | 5/1438042987135.9_20150728002307-00140-ip-10-236-191-2_737932452_3.json |
a5103755_cards_about_My_CPA_REGmodule25__Answer | [Question] What is the order of priority of distribution of assets upon dissolution of an LLC? What may be required to be filled with the dissolution? [Answer] | 1.creditors -members/past members for unpaid distributions -members to receive capital contributions back -members for their distributions 2.a dissolution document with the state | [] | Flashcards about My CPA-REGmodule25 | Answer | http://www.studystack.com/flashcard-890623 | 5/1438042987135.9_20150728002307-00140-ip-10-236-191-2_737932452_3.json |
a5103755_cards_about_My_CPA_REGmodule25__Answer | [Question] How is a Limited Liability Partnership formed? [Answer] | -file articles of LLP with secretary of state -name includes LLP or written out -majority of partners approval needed to become LLP -laws where formed govern actions of LLP | [] | Flashcards about My CPA-REGmodule25 | Answer | http://www.studystack.com/flashcard-890623 | 5/1438042987135.9_20150728002307-00140-ip-10-236-191-2_737932452_3.json |
a5103755_cards_about_My_CPA_REGmodule25__Answer | [Question] Who would prefer a LLP formation? [Answer] | professionals who want to do business as a partnership but still pass through tax benefits while limiting personal liability of the partners (popular with accounting and law firms) | [] | Flashcards about My CPA-REGmodule25 | Answer | http://www.studystack.com/flashcard-890623 | 5/1438042987135.9_20150728002307-00140-ip-10-236-191-2_737932452_3.json |
a5103755_cards_about_My_CPA_REGmodule25__Answer | [Question] When would partners of an LLP have personal liability? [Answer] | if partner commits a tort within the LLP's business or torts committed by parties under the partners supervision or control | [] | Flashcards about My CPA-REGmodule25 | Answer | http://www.studystack.com/flashcard-890623 | 5/1438042987135.9_20150728002307-00140-ip-10-236-191-2_737932452_3.json |
a5103755_cards_about_My_CPA_REGmodule25__Answer | [Question] What are the two categories corporations are divided between? What is the main distinction? [Answer] | 1.S corporations and C corporations 2.tax treatment | [] | Flashcards about My CPA-REGmodule25 | Answer | http://www.studystack.com/flashcard-890623 | 5/1438042987135.9_20150728002307-00140-ip-10-236-191-2_737932452_3.json |
a5103755_cards_about_My_CPA_REGmodule25__Answer | [Question] What is the liability when invested in a corporation? Can a corporation be terminated by death of a shareholder? [Answer] | 1.limited, only risk investment amount 2.No regarded as perpetual exists until dissolved, merged, or terminated | [] | Flashcards about My CPA-REGmodule25 | Answer | http://www.studystack.com/flashcard-890623 | 5/1438042987135.9_20150728002307-00140-ip-10-236-191-2_737932452_3.json |
a5103755_cards_about_My_CPA_REGmodule25__Answer | [Question] What may a corporation do, considering it is a separate legal entity? [Answer] | -take, hold, convey property -contract in own name with shareholders/3rd parties -sue and be sued | [] | Flashcards about My CPA-REGmodule25 | Answer | http://www.studystack.com/flashcard-890623 | 5/1438042987135.9_20150728002307-00140-ip-10-236-191-2_737932452_3.json |
a5103755_cards_about_My_CPA_REGmodule25__Answer | [Question] Who manages a corporation? When may they be removed before their term ends? [Answer] | 1.Board of directors elected by shareholders 2.only for cause under common law | [] | Flashcards about My CPA-REGmodule25 | Answer | http://www.studystack.com/flashcard-890623 | 5/1438042987135.9_20150728002307-00140-ip-10-236-191-2_737932452_3.json |
a5103755_cards_about_My_CPA_REGmodule25__Answer | [Question] What are the disadvantages to a corporate structure? [Answer] | -Tax treatment(double taxation) -costs to create (must meet formal creation requirements) -formal operating requirements must be met -Public corporations have substantial costs of compliance with federal securities laws, may be subject to hostile takeo | [] | Flashcards about My CPA-REGmodule25 | Answer | http://www.studystack.com/flashcard-890623 | 5/1438042987135.9_20150728002307-00140-ip-10-236-191-2_737932452_3.json |
a5103755_cards_about_My_CPA_REGmodule25__Answer | [Question] What are the types of corporations and give a word on each. [Answer] | Domestic-operates within state incorporated Foreign-any state Professional-allow doctors/accountants/attorneys to incorporate Close Corporation-<50 shareholders De Facto-formed in fact but not properly by law De Jure-formed correctly | [] | Flashcards about My CPA-REGmodule25 | Answer | http://www.studystack.com/flashcard-890623 | 5/1438042987135.9_20150728002307-00140-ip-10-236-191-2_737932452_3.json |
a5103755_cards_about_My_CPA_REGmodule25__Answer | [Question] What type of business is not considered doing business within a state? [Answer] | defending a lawsuit, holding bank account, using mail to solicit orders, collecting debts, using independent contractors to make sales | [] | Flashcards about My CPA-REGmodule25 | Answer | http://www.studystack.com/flashcard-890623 | 5/1438042987135.9_20150728002307-00140-ip-10-236-191-2_737932452_3.json |
a5103755_cards_about_My_CPA_REGmodule25__Answer | [Question] If a foreign corporation is required to qualify to do business within a state, how is it accomplished? what does this mean? [Answer] | 1.obtain certificate of authority from state 2.appoint agent to receive service of process for suits against corp, pay specified fees, file info with secretary of state | [] | Flashcards about My CPA-REGmodule25 | Answer | http://www.studystack.com/flashcard-890623 | 5/1438042987135.9_20150728002307-00140-ip-10-236-191-2_737932452_3.json |
a5103755_cards_about_My_CPA_REGmodule25__Answer | [Question] What amount of shareholders must agree to become a close corporation? How can a close corporation be managed? Are shareholder meetings held? Is sale of stock unrestricted? [Answer] | 1.2/3rd of shares of each class of share must approve 2.If approve can function without board of directors, then managed by shareholders 3.Only if shareholder demands one in writing 4.No | [] | Flashcards about My CPA-REGmodule25 | Answer | http://www.studystack.com/flashcard-890623 | 5/1438042987135.9_20150728002307-00140-ip-10-236-191-2_737932452_3.json |
a5103755_cards_about_My_CPA_REGmodule25__Answer | [Question] What is a promotor? What do they do? Does a promoter have a fiduciary relationship with the corporation? [Answer] | 1.Someone/s who form corporations and arrange capitalization to begin corporations 2.handles issue of prospectus,promotes stock subscriptions,draws up charter 3.Yes | [] | Flashcards about My CPA-REGmodule25 | Answer | http://www.studystack.com/flashcard-890623 | 5/1438042987135.9_20150728002307-00140-ip-10-236-191-2_737932452_3.json |
a5103755_cards_about_My_CPA_REGmodule25__Answer | [Question] Are agreements made preincorporation by the promoter binding on the future corporation? Is the promoter personally liable on the contracts? What if his name isnt on the contract?What is a novation? [Answer] | 1.No unless adopted by corp once in existence 2.Yes adoption by corporation doesnt relieve 3.Still personally liable 4.relieves promoter of liability, other party must submit to. Also relieve if 3rd party clearly say only look to corp for performance | [] | Flashcards about My CPA-REGmodule25 | Answer | http://www.studystack.com/flashcard-890623 | 5/1438042987135.9_20150728002307-00140-ip-10-236-191-2_737932452_3.json |
a5103755_cards_about_My_CPA_REGmodule25__Answer | [Question] When a corporation is incorporated, what is included in the articles of incorporation to be filed with the state? [Answer] | proposed name of corp and address, purpose/powers of corp, name of registered agent of corp, name and address of each incorporator, number of authorized shares of stock | [] | Flashcards about My CPA-REGmodule25 | Answer | http://www.studystack.com/flashcard-890623 | 5/1438042987135.9_20150728002307-00140-ip-10-236-191-2_737932452_3.json |
a5103755_cards_about_My_CPA_REGmodule25__Answer | [Question] After incorporation, what must be done at the first shareholders meeting? What may happen then or subsequent meetings? [Answer] | 1.issue stock certificates, temporary directors resign and elect new ones 2.elect officers, adopt/reject preincorporation contracts, begins business of corp, adopt initial bylaws (provide specific rules for mgmt, no need to file with govt) | [] | Flashcards about My CPA-REGmodule25 | Answer | http://www.studystack.com/flashcard-890623 | 5/1438042987135.9_20150728002307-00140-ip-10-236-191-2_737932452_3.json |
a5103755_cards_about_My_CPA_REGmodule25__Answer | [Question] If the articles of incorporation are subsequently amended whos approval is needed? What amount of approval? do dissenting voters have options? [Answer] | 1.any adversely affected shareholders of amendment 2.often majority sometimes 2/3 3.may assert right of appraisal, receive FV (amt right before vote) for shares | [] | Flashcards about My CPA-REGmodule25 | Answer | http://www.studystack.com/flashcard-890623 | 5/1438042987135.9_20150728002307-00140-ip-10-236-191-2_737932452_3.json |
a5103755_cards_about_My_CPA_REGmodule25__Answer | [Question] What are uncertificated securities? Unissued stock? [Answer] | 1.securities not represented by written documents 2.authorized but not yet issued | [] | Flashcards about My CPA-REGmodule25 | Answer | http://www.studystack.com/flashcard-890623 | 5/1438042987135.9_20150728002307-00140-ip-10-236-191-2_737932452_3.json |
a5103755_cards_about_My_CPA_REGmodule25__Answer | [Question] How must treasury stock be purchased? Do treasury stock have to follow preemptive rights? Can the treasury stock be purchased if it makes the corporation insolvent? [Answer] | 1.out of unreserved or unrestricted earned surplus 2.No 3.heck no | [] | Flashcards about My CPA-REGmodule25 | Answer | http://www.studystack.com/flashcard-890623 | 5/1438042987135.9_20150728002307-00140-ip-10-236-191-2_737932452_3.json |
a5103755_cards_about_My_CPA_REGmodule25__Answer | [Question] In respect to creditors and liability, what happens if stock is originally purchased below par? subsequent purchaser? [Answer] | 1.creditor can hold the purchaser liable 2.still held liable if purchased in good faith without notice sale was below par | [] | Flashcards about My CPA-REGmodule25 | Answer | http://www.studystack.com/flashcard-890623 | 5/1438042987135.9_20150728002307-00140-ip-10-236-191-2_737932452_3.json |
a5103755_cards_about_My_CPA_REGmodule25__Answer | [Question] How is stated or legal capital of a corporation calculated? Can dividends be paid from it? [Answer] | 1.#shares issued x par value (or stated value) -if no par or stated value then use total consideration received 2.No | [] | Flashcards about My CPA-REGmodule25 | Answer | http://www.studystack.com/flashcard-890623 | 5/1438042987135.9_20150728002307-00140-ip-10-236-191-2_737932452_3.json |
a5103755_cards_about_My_CPA_REGmodule25__Answer | [Question] What is earned surplus now called? How is a surplus calculated? [Answer] | 1.retained earnings 2.Net assets - stated capital | [] | Flashcards about My CPA-REGmodule25 | Answer | http://www.studystack.com/flashcard-890623 | 5/1438042987135.9_20150728002307-00140-ip-10-236-191-2_737932452_3.json |
a5103755_cards_about_My_CPA_REGmodule25__Answer | [Question] Does preferred stock have voting rights? [Answer] | usually no (on test assume it is unless stated) | [] | Flashcards about My CPA-REGmodule25 | Answer | http://www.studystack.com/flashcard-890623 | 5/1438042987135.9_20150728002307-00140-ip-10-236-191-2_737932452_3.json |
a5103755_cards_about_My_CPA_REGmodule25__Answer | [Question] What does cumulative preferred stock mean? [Answer] | if periodic dividend is not paid, that accumulates and must be satisfied before common stock gets a dividend (not a liability until dividend declared by BOD) | [] | Flashcards about My CPA-REGmodule25 | Answer | http://www.studystack.com/flashcard-890623 | 5/1438042987135.9_20150728002307-00140-ip-10-236-191-2_737932452_3.json |
a5103755_cards_about_My_CPA_REGmodule25__Answer | [Question] What is a callable stock? [Answer] | may be redeemed at a fixed price by the corporation | [] | Flashcards about My CPA-REGmodule25 | Answer | http://www.studystack.com/flashcard-890623 | 5/1438042987135.9_20150728002307-00140-ip-10-236-191-2_737932452_3.json |
a5103755_cards_about_My_CPA_REGmodule25__Answer | [Question] What is a stock subscription? [Answer] | Contracts to purchase a # of shares from to be organized(subscript irrevocable for 6 months) or existing corporation, not binding till accepted by corporation. Once accepted subscriber liable for purchase and as a corporate shareholder | [] | Flashcards about My CPA-REGmodule25 | Answer | http://www.studystack.com/flashcard-890623 | 5/1438042987135.9_20150728002307-00140-ip-10-236-191-2_737932452_3.json |
a5103755_cards_about_My_CPA_REGmodule25__Answer | [Question] When is stock said to be watered? What can creditors of the corporation recover? [Answer] | 1.cash or property exchanged is less than the par or stated value (most state laws dont allow) 2.amount of water in shares(par value-amt paid) | [] | Flashcards about My CPA-REGmodule25 | Answer | http://www.studystack.com/flashcard-890623 | 5/1438042987135.9_20150728002307-00140-ip-10-236-191-2_737932452_3.json |
a5103755_cards_about_My_CPA_REGmodule25__Answer | [Question] What can be considered valid consideration for stock? [Answer] | any benefit to corporation (cash, property, services, intangible property, promissory notes, other securities, services contracted in future) | [] | Flashcards about My CPA-REGmodule25 | Answer | http://www.studystack.com/flashcard-890623 | 5/1438042987135.9_20150728002307-00140-ip-10-236-191-2_737932452_3.json |
a5103755_cards_about_My_CPA_REGmodule25__Answer | [Question] Are debt security holders owners? What are debt securities [Answer] | 1.No they are creditors 2.Debenture- long term unsecured debt Bond- long term secured debt | [] | Flashcards about My CPA-REGmodule25 | Answer | http://www.studystack.com/flashcard-890623 | 5/1438042987135.9_20150728002307-00140-ip-10-236-191-2_737932452_3.json |
a5103755_cards_about_My_CPA_REGmodule25__Answer | [Question] By law, does a corporation have to issue more than one class of common stock and more than one class of preferred stock? [Answer] | Yes | [] | Flashcards about My CPA-REGmodule25 | Answer | http://www.studystack.com/flashcard-890623 | 5/1438042987135.9_20150728002307-00140-ip-10-236-191-2_737932452_3.json |
a5103755_cards_about_My_CPA_REGmodule25__Answer | [Question] What are the powers and duties of a director of a corporation? Do they receive compensation? [Answer] | -can only bind corp acting as a board member at a duly constituted meeting of the board -declare dividends, select officers, delegate routine authority 2.not unless specified (may be reimbursed for expenses on behalf of corp) | [] | Flashcards about My CPA-REGmodule25 | Answer | http://www.studystack.com/flashcard-890623 | 5/1438042987135.9_20150728002307-00140-ip-10-236-191-2_737932452_3.json |
a5103755_cards_about_My_CPA_REGmodule25__Answer | [Question] What is the director of a corporations liability? [Answer] | must exercise ordinary care, due diligence -liable for own torts (corp liable to if committed w/in scope of duty), negligence if action caused corps loss, personally liable for ultra vires acts/approving illegal dividends | [] | Flashcards about My CPA-REGmodule25 | Answer | http://www.studystack.com/flashcard-890623 | 5/1438042987135.9_20150728002307-00140-ip-10-236-191-2_737932452_3.json |
a5103755_cards_about_My_CPA_REGmodule25__Answer | [Question] What is the business judgement rule in respect to the director of a corporations liability? If a director doesn't prevent wrongs of other directors could he be liable still? How can a corporation protect the liability of its directors and officers? [Answer] | 1.not liable for errors of judgement if not negligent and acting in good faith 2.Yes if intentional or negligent 3.purchase liability insurance(covers litigation and judgement costs), corp pays premiums | [] | Flashcards about My CPA-REGmodule25 | Answer | http://www.studystack.com/flashcard-890623 | 5/1438042987135.9_20150728002307-00140-ip-10-236-191-2_737932452_3.json |
a5103755_cards_about_My_CPA_REGmodule25__Answer | [Question] Do directors owe fiduciary duties to the corporation? [Answer] | Yes, even though not thought of as an agent, owe fiduciary duties of an agent (loyalty, due care, and obedience) | [] | Flashcards about My CPA-REGmodule25 | Answer | http://www.studystack.com/flashcard-890623 | 5/1438042987135.9_20150728002307-00140-ip-10-236-191-2_737932452_3.json |
a5103755_cards_about_My_CPA_REGmodule25__Answer | [Question] Can transactions that represent a conflict of interest to the director be considered valid? [Answer] | Yes one of the following must be established -conflict is disclosed/known by board and majority approve -conflict is disclosed/known by shareholders and majority approve w/vote -transaction is fair/reasonable to corp | [] | Flashcards about My CPA-REGmodule25 | Answer | http://www.studystack.com/flashcard-890623 | 5/1438042987135.9_20150728002307-00140-ip-10-236-191-2_737932452_3.json |
a5103755_cards_about_My_CPA_REGmodule25__Answer | [Question] What is the function of officers of a corporation? Are they agents of the corp? [Answer] | 1.operate day to day business as delegated by the board 2.Yes can bind corp by his individual acts if within scope of authority set forth in bylaws | [] | Flashcards about My CPA-REGmodule25 | Answer | http://www.studystack.com/flashcard-890623 | 5/1438042987135.9_20150728002307-00140-ip-10-236-191-2_737932452_3.json |
a5103755_cards_about_My_CPA_REGmodule25__Answer | [Question] Can an officer of a corporation also be a director? How are officers selected? Do they have a fiduciary duty? [Answer] | 1.Yes 2.By directors and work for a fixed term under the bylaws 3.Yes | [] | Flashcards about My CPA-REGmodule25 | Answer | http://www.studystack.com/flashcard-890623 | 5/1438042987135.9_20150728002307-00140-ip-10-236-191-2_737932452_3.json |
a5103755_cards_about_My_CPA_REGmodule25__Answer | [Question] In a corporation is there a fiduciary duty owed by major shareholders to minority shareholders? [Answer] | Yes when the majority shareholders have de facto control over the corporation | [] | Flashcards about My CPA-REGmodule25 | Answer | http://www.studystack.com/flashcard-890623 | 5/1438042987135.9_20150728002307-00140-ip-10-236-191-2_737932452_3.json |
a5103755_cards_about_My_CPA_REGmodule25__Answer | [Question] When can employee torts of violence hold the company liable? [Answer] | If they are foreseeable | [] | Flashcards about My CPA-REGmodule25 | Answer | http://www.studystack.com/flashcard-890623 | 5/1438042987135.9_20150728002307-00140-ip-10-236-191-2_737932452_3.json |
a5103755_cards_about_My_CPA_REGmodule25__Answer | [Question] Can any limitations be placed on a stockholders right to transfer stock? [Answer] | Yes but must be reasonable (normally used by closed corps), limitations must be printed plainly on the certificate to be effective against 3rd parties | [] | Flashcards about My CPA-REGmodule25 | Answer | http://www.studystack.com/flashcard-890623 | 5/1438042987135.9_20150728002307-00140-ip-10-236-191-2_737932452_3.json |
a5103755_cards_about_My_CPA_REGmodule25__Answer | [Question] Can stockholders have voting agreements that provide that they will vote a certain way on issues or for certain people for the BOD? [Answer] | Yes and it is enforceable | [] | Flashcards about My CPA-REGmodule25 | Answer | http://www.studystack.com/flashcard-890623 | 5/1438042987135.9_20150728002307-00140-ip-10-236-191-2_737932452_3.json |
a5103755_cards_about_My_CPA_REGmodule25__Answer | [Question] Can directors amend the bylaws without approval of shareholders? [Answer] | Yes | [] | Flashcards about My CPA-REGmodule25 | Answer | http://www.studystack.com/flashcard-890623 | 5/1438042987135.9_20150728002307-00140-ip-10-236-191-2_737932452_3.json |
a5103755_cards_about_My_CPA_REGmodule25__Answer | [Question] What rights do shareholders of a corporation have to dividends? [Answer] | None, unless dividends are declared by the BOD | [] | Flashcards about My CPA-REGmodule25 | Answer | http://www.studystack.com/flashcard-890623 | 5/1438042987135.9_20150728002307-00140-ip-10-236-191-2_737932452_3.json |
a5103755_cards_about_My_CPA_REGmodule25__Answer | [Question] What rights do shareholders of a corporation have to inspect a corporations books? [Answer] | Can look at minute books, stock certificate books, stock ledgers, general account books. Demand must be made in good faith and for a proper purpose | [] | Flashcards about My CPA-REGmodule25 | Answer | http://www.studystack.com/flashcard-890623 | 5/1438042987135.9_20150728002307-00140-ip-10-236-191-2_737932452_3.json |
a5103755_cards_about_My_CPA_REGmodule25__Answer | [Question] How is preemptive rights of a shareholder treated on the exam? [Answer] | must be told shareholder has preemptive rights or it does not exist | [] | Flashcards about My CPA-REGmodule25 | Answer | http://www.studystack.com/flashcard-890623 | 5/1438042987135.9_20150728002307-00140-ip-10-236-191-2_737932452_3.json |
a5103755_cards_about_My_CPA_REGmodule25__Answer | [Question] When can a stockholder sue on his own behalf? On behalf of the corporation? If on behalf of the corp, where do the damages go? [Answer] | 1.if his interests have been directly injured (denied right to inspect records, denied preemptive rights if shouldn't have) 2.duty of the corp is violated and the corp doesnt enforce, must 1st demand corp to take action, if no then sue 3.to the corp | [] | Flashcards about My CPA-REGmodule25 | Answer | http://www.studystack.com/flashcard-890623 | 5/1438042987135.9_20150728002307-00140-ip-10-236-191-2_737932452_3.json |
a5103755_cards_about_My_CPA_REGmodule25__Answer | [Question] What could stockholders be potentially liable to creditors of a corporation for? [Answer] | original issue stock sold below par(contingently liable for difference par and amt paid), unpaid balance on no-par stock, dividend paid that impaired corps capital if corp is insolvent | [] | Flashcards about My CPA-REGmodule25 | Answer | http://www.studystack.com/flashcard-890623 | 5/1438042987135.9_20150728002307-00140-ip-10-236-191-2_737932452_3.json |
a5103755_cards_about_My_CPA_REGmodule25__Answer | [Question] If the corporate veil is pierced, could stockholders be held personally viable? [Answer] | Yes rarely happens but may occur if; -corp used to perpetuate fraud -owners/officers dont treat corp as separate entity -shareholders commingle assets,bank accounts, financial records with the corp -corporate formalities are not adhered to | [] | Flashcards about My CPA-REGmodule25 | Answer | http://www.studystack.com/flashcard-890623 | 5/1438042987135.9_20150728002307-00140-ip-10-236-191-2_737932452_3.json |
a5103755_cards_about_My_CPA_REGmodule25__Answer | [Question] What happens to shareholders of a corporation that goes through a merger and their corporation is absorbed? [Answer] | surviving corp issues its own shares to shareholders | [] | Flashcards about My CPA-REGmodule25 | Answer | http://www.studystack.com/flashcard-890623 | 5/1438042987135.9_20150728002307-00140-ip-10-236-191-2_737932452_3.json |
a5103755_cards_about_My_CPA_REGmodule25__Answer | [Question] What are the requirements necessary to achieve a merger or consolidation? What can dissatisfied shareholders do? [Answer] | -both corp boards prepare/submit plans to shareholders -approval both BOD -shareholders given copy/summary of merger plan -shareholders each majority vote approves -all assets/liabilities transferred 2.dissent and assert appraisal rights (get FV of s | [] | Flashcards about My CPA-REGmodule25 | Answer | http://www.studystack.com/flashcard-890623 | 5/1438042987135.9_20150728002307-00140-ip-10-236-191-2_737932452_3.json |
a5103755_cards_about_My_CPA_REGmodule25__Answer | [Question] Who must a voluntary dissolution of a corporation be approved? Who can decide to do a voluntary dissolution? What must be filed? [Answer] | 1.Yes by majority of shareholders entitled to vote 2.BOD 3.dissolution document | [] | Flashcards about My CPA-REGmodule25 | Answer | http://www.studystack.com/flashcard-890623 | 5/1438042987135.9_20150728002307-00140-ip-10-236-191-2_737932452_3.json |
a5103755_cards_about_My_CPA_REGmodule25__Answer | [Question] If a corporation is going through the liquidation process, what is the priority of payments? [Answer] | -expenses of liquidation and creditors -preferred shareholders -common shareholders | [] | Flashcards about My CPA-REGmodule25 | Answer | http://www.studystack.com/flashcard-890623 | 5/1438042987135.9_20150728002307-00140-ip-10-236-191-2_737932452_3.json |
a5103755_cards_about_My_CPA_REGmodule25__Answer | [Question] What does a subchapter S corporation avoid? How? [Answer] | 1.double taxation 2.not paying tax at the corporate level, income flows through income tax of individual shareholders(report even if not distributed) | [] | Flashcards about My CPA-REGmodule25 | Answer | http://www.studystack.com/flashcard-890623 | 5/1438042987135.9_20150728002307-00140-ip-10-236-191-2_737932452_3.json |
a5103755_cards_about_My_CPA_REGmodule25__Answer | [Question] What are some rules a subchapter S corporation must watch out for? [Answer] | -must be incorporated in US, only have 1 class of stock -Can have no more than 100 shareholders -Shareholders limited to individuals, estates, qualified trusts, similar entities -No foreign ownership of shares -cannot have excessive amts of passive in | [] | Flashcards about My CPA-REGmodule25 | Answer | http://www.studystack.com/flashcard-890623 | 5/1438042987135.9_20150728002307-00140-ip-10-236-191-2_737932452_3.json |
93e7e5eb_lashcards_about_DSM_IV_Axis_II__2 | [Question] Paranoid M [Answer] SUSPECT [2] | spousal infidelity; threats in benign events | [] | Flashcards about DSM-IV Axis II | 2 | http://www.studystack.com/flashcard-160508 | 5/1438042988718.8_20150728002308-00209-ip-10-236-191-2_716896555_3.json |
93e7e5eb_lashcards_about_DSM_IV_Axis_II__2 | [Question] Schizotypal M [Answer] ME PECULIAR [2] | eccentric behavior or appearance; lacks close friends | [] | Flashcards about DSM-IV Axis II | 2 | http://www.studystack.com/flashcard-160508 | 5/1438042988718.8_20150728002308-00209-ip-10-236-191-2_716896555_3.json |
93e7e5eb_lashcards_about_DSM_IV_Axis_II__2 | [Question] Histrionic M [Answer] PRAISE ME [2] | provactive or seductive behavior; relationships considered more intimate | [] | Flashcards about DSM-IV Axis II | 2 | http://www.studystack.com/flashcard-160508 | 5/1438042988718.8_20150728002308-00209-ip-10-236-191-2_716896555_3.json |
93e7e5eb_lashcards_about_DSM_IV_Axis_II__2 | [Question] Narcissistic M [Answer] GRANDIOSE [2] | grandiose; requires attention | [] | Flashcards about DSM-IV Axis II | 2 | http://www.studystack.com/flashcard-160508 | 5/1438042988718.8_20150728002308-00209-ip-10-236-191-2_716896555_3.json |
93e7e5eb_lashcards_about_DSM_IV_Axis_II__2 | [Question] Dependent M [Answer] RELIANCE [2] | reassurance required; expressing disagreement difficult | [] | Flashcards about DSM-IV Axis II | 2 | http://www.studystack.com/flashcard-160508 | 5/1438042988718.8_20150728002308-00209-ip-10-236-191-2_716896555_3.json |
93e7e5eb_lashcards_about_DSM_IV_Axis_II__2 | [Question] Schizoid M [Answer] DISTANT [2] | detached flattened affect; indifferent to criticism or praise | [] | Flashcards about DSM-IV Axis II | 2 | http://www.studystack.com/flashcard-160508 | 5/1438042988718.8_20150728002308-00209-ip-10-236-191-2_716896555_3.json |
93e7e5eb_lashcards_about_DSM_IV_Axis_II__2 | [Question] Antisocial M [Answer] CORRUPT [2] | cannot conform to law; obligations ignored | [] | Flashcards about DSM-IV Axis II | 2 | http://www.studystack.com/flashcard-160508 | 5/1438042988718.8_20150728002308-00209-ip-10-236-191-2_716896555_3.json |
93e7e5eb_lashcards_about_DSM_IV_Axis_II__2 | [Question] Avoidant M [Answer] CRINGES [2] | criticism preoccupies thoughts in social situations; restraint in relationships due to fear | [] | Flashcards about DSM-IV Axis II | 2 | http://www.studystack.com/flashcard-160508 | 5/1438042988718.8_20150728002308-00209-ip-10-236-191-2_716896555_3.json |
93e7e5eb_lashcards_about_DSM_IV_Axis_II__2 | [Question] Obsessive-compulsive M [Answer] SCRIMPER [2] | inflexible; perfectionistic | [] | Flashcards about DSM-IV Axis II | 2 | http://www.studystack.com/flashcard-160508 | 5/1438042988718.8_20150728002308-00209-ip-10-236-191-2_716896555_3.json |
93e7e5eb_lashcards_about_DSM_IV_Axis_II__2 | [Question] Borderline M [Answer] IMPULSIVE [2] | impulsive; moodiness | [] | Flashcards about DSM-IV Axis II | 2 | http://www.studystack.com/flashcard-160508 | 5/1438042988718.8_20150728002308-00209-ip-10-236-191-2_716896555_3.json |
c4e9d008_ards_about_ben_frank_biztown_2__Question | [Answer] A business that provides money-related services. [Question] | Financial Institution | [] | Flashcards about ben frank biztown 2 | Question | http://www.studystack.com/flashcard-813598 | 5/1438042988718.8_20150728002308-00332-ip-10-236-191-2_734659685_3.json |
c4e9d008_ards_about_ben_frank_biztown_2__Question | [Answer] An account that allows the owner to write checks against deposited money. [Question] | Checking Account | [] | Flashcards about ben frank biztown 2 | Question | http://www.studystack.com/flashcard-813598 | 5/1438042988718.8_20150728002308-00332-ip-10-236-191-2_734659685_3.json |
c4e9d008_ards_about_ben_frank_biztown_2__Question | [Answer] Cards that allow customers to electronically and immediately withdraw funds from their accounts. [Question] | Debit Card | [] | Flashcards about ben frank biztown 2 | Question | http://www.studystack.com/flashcard-813598 | 5/1438042988718.8_20150728002308-00332-ip-10-236-191-2_734659685_3.json |
c4e9d008_ards_about_ben_frank_biztown_2__Question | [Answer] An account used to hold money that is not needed right away. [Question] | Savings Account | [] | Flashcards about ben frank biztown 2 | Question | http://www.studystack.com/flashcard-813598 | 5/1438042988718.8_20150728002308-00332-ip-10-236-191-2_734659685_3.json |
c4e9d008_ards_about_ben_frank_biztown_2__Question | [Answer] An amount of money borrowed by someone that must be repaid, usually with interest. [Question] | Loan | [] | Flashcards about ben frank biztown 2 | Question | http://www.studystack.com/flashcard-813598 | 5/1438042988718.8_20150728002308-00332-ip-10-236-191-2_734659685_3.json |
c4e9d008_ards_about_ben_frank_biztown_2__Question | [Answer] A fee received for the use of money. [Question] | Interest | [] | Flashcards about ben frank biztown 2 | Question | http://www.studystack.com/flashcard-813598 | 5/1438042988718.8_20150728002308-00332-ip-10-236-191-2_734659685_3.json |
c4e9d008_ards_about_ben_frank_biztown_2__Question | [Answer] A card that allows the holder to buy goods and services, taking out a bank loan for the purchases. [Question] | Credit Card | [] | Flashcards about ben frank biztown 2 | Question | http://www.studystack.com/flashcard-813598 | 5/1438042988718.8_20150728002308-00332-ip-10-236-191-2_734659685_3.json |
c4e9d008_ards_about_ben_frank_biztown_2__Question | [Answer] Written orders to a bank to pay a certain amount of money from a checking account to another person or business. [Question] | Checks | [] | Flashcards about ben frank biztown 2 | Question | http://www.studystack.com/flashcard-813598 | 5/1438042988718.8_20150728002308-00332-ip-10-236-191-2_734659685_3.json |
c4e9d008_ards_about_ben_frank_biztown_2__Question | [Answer] Written records of money put into a checking account. [Question] | Deposit Tickets | [] | Flashcards about ben frank biztown 2 | Question | http://www.studystack.com/flashcard-813598 | 5/1438042988718.8_20150728002308-00332-ip-10-236-191-2_734659685_3.json |
c4e9d008_ards_about_ben_frank_biztown_2__Question | [Answer] A booklet for recording the money that is put in (deposited) or removed (withdrawn) from the checking account. [Question] | Check Register | [] | Flashcards about ben frank biztown 2 | Question | http://www.studystack.com/flashcard-813598 | 5/1438042988718.8_20150728002308-00332-ip-10-236-191-2_734659685_3.json |
c4e9d008_ards_about_ben_frank_biztown_2__Question | [Answer] The amount of money deposited into an account, minus any cash received. [Question] | Net Deposit | [] | Flashcards about ben frank biztown 2 | Question | http://www.studystack.com/flashcard-813598 | 5/1438042988718.8_20150728002308-00332-ip-10-236-191-2_734659685_3.json |
c4e9d008_ards_about_ben_frank_biztown_2__Question | [Answer] To write a signature on the back of the check [Question] | Endorse | [] | Flashcards about ben frank biztown 2 | Question | http://www.studystack.com/flashcard-813598 | 5/1438042988718.8_20150728002308-00332-ip-10-236-191-2_734659685_3.json |
c4e9d008_ards_about_ben_frank_biztown_2__Question | [Answer] The interest a person earns on today's money that will compound (add) to the amount of money (savings) that will earn interest later. [Question] | Compound Interest | [] | Flashcards about ben frank biztown 2 | Question | http://www.studystack.com/flashcard-813598 | 5/1438042988718.8_20150728002308-00332-ip-10-236-191-2_734659685_3.json |
9815a5fa_hcards_about_February_12__2012__Question | [Answer] True [Question] | Diffusion is the process that moves air into and out of the lungs...True or False? | [] | Flashcards about February 12, 2012 | Question | http://www.studystack.com/flashcard-852740 | 5/1438042988718.8_20150728002308-00057-ip-10-236-191-2_728808513_3.json |
9815a5fa_hcards_about_February_12__2012__Question | [Answer] False- contract [Question] | For inspiration to take place, the diaphram and other respiratory muscles relax...True or False? | [] | Flashcards about February 12, 2012 | Question | http://www.studystack.com/flashcard-852740 | 5/1438042988718.8_20150728002308-00057-ip-10-236-191-2_728808513_3.json |
9815a5fa_hcards_about_February_12__2012__Question | [Answer] Internal Respiration [Question] | The exchange of gases that occurs between blood in tissue capillaries and the body cells is Internal or external respitation? | [] | Flashcards about February 12, 2012 | Question | http://www.studystack.com/flashcard-852740 | 5/1438042988718.8_20150728002308-00057-ip-10-236-191-2_728808513_3.json |
9815a5fa_hcards_about_February_12__2012__Question | [Answer] The process that releases energy from nutrients to form ATP [Question] | Cellular Respiration | [] | Flashcards about February 12, 2012 | Question | http://www.studystack.com/flashcard-852740 | 5/1438042988718.8_20150728002308-00057-ip-10-236-191-2_728808513_3.json |
9815a5fa_hcards_about_February_12__2012__Question | [Answer] The passive movement of molecules from an area of higher consentration to and area of lower consentration...Internal and External Respiration [Question] | Diffusion | [] | Flashcards about February 12, 2012 | Question | http://www.studystack.com/flashcard-852740 | 5/1438042988718.8_20150728002308-00057-ip-10-236-191-2_728808513_3.json |
9815a5fa_hcards_about_February_12__2012__Question | [Answer] The exchange of gases between the cells of the body and into the blood [Question] | Internal Respiration | [] | Flashcards about February 12, 2012 | Question | http://www.studystack.com/flashcard-852740 | 5/1438042988718.8_20150728002308-00057-ip-10-236-191-2_728808513_3.json |
9815a5fa_hcards_about_February_12__2012__Question | [Answer] the exchange of oxygen and carbon dioxide between air in the lungs and the blood [Question] | External Respiration | [] | Flashcards about February 12, 2012 | Question | http://www.studystack.com/flashcard-852740 | 5/1438042988718.8_20150728002308-00057-ip-10-236-191-2_728808513_3.json |
9815a5fa_hcards_about_February_12__2012__Question | [Answer] The volume of air exchange in quiet breathing cycle is about 500 ml [Question] | Tidal Volume | [] | Flashcards about February 12, 2012 | Question | http://www.studystack.com/flashcard-852740 | 5/1438042988718.8_20150728002308-00057-ip-10-236-191-2_728808513_3.json |
9815a5fa_hcards_about_February_12__2012__Question | [Answer] About 1200 ml of air remains in the lungs after maximum forced expiration [Question] | Residual Volume (RV) | [] | Flashcards about February 12, 2012 | Question | http://www.studystack.com/flashcard-852740 | 5/1438042988718.8_20150728002308-00057-ip-10-236-191-2_728808513_3.json |
9815a5fa_hcards_about_February_12__2012__Question | [Answer] The maxumum volume of ari that can be forcefully exhaled after the tidal expiration is about 1100 ml [Question] | Expiratory Reserve Volume (ERV) | [] | Flashcards about February 12, 2012 | Question | http://www.studystack.com/flashcard-852740 | 5/1438042988718.8_20150728002308-00057-ip-10-236-191-2_728808513_3.json |
9815a5fa_hcards_about_February_12__2012__Question | [Answer] Pulmonary Ventilation [Question] | the term that means the same thing as breathing is | [] | Flashcards about February 12, 2012 | Question | http://www.studystack.com/flashcard-852740 | 5/1438042988718.8_20150728002308-00057-ip-10-236-191-2_728808513_3.json |
9815a5fa_hcards_about_February_12__2012__Question | [Answer] True- Oxyhemoglobin [Question] | Most of the oxygen transported by blood is bound to hemoglobin True or False... | [] | Flashcards about February 12, 2012 | Question | http://www.studystack.com/flashcard-852740 | 5/1438042988718.8_20150728002308-00057-ip-10-236-191-2_728808513_3.json |
9815a5fa_hcards_about_February_12__2012__Question | [Answer] Pheumonia [Question] | An acute inflammation of the lung in which the alveoli and bronchi become plugged with thick fluid is called | [] | Flashcards about February 12, 2012 | Question | http://www.studystack.com/flashcard-852740 | 5/1438042988718.8_20150728002308-00057-ip-10-236-191-2_728808513_3.json |
9815a5fa_hcards_about_February_12__2012__Question | [Answer] Emphysema [Question] | This may result from the prgression of chronic bronchitis or other conditions as sir becomes trapped whithin alveoli, causeing them to enlarge and rventually rupture | [] | Flashcards about February 12, 2012 | Question | http://www.studystack.com/flashcard-852740 | 5/1438042988718.8_20150728002308-00057-ip-10-236-191-2_728808513_3.json |
9815a5fa_hcards_about_February_12__2012__Question | [Answer] Asthma [Question] | What is an obstructive disorder characterized by resurring spasms of the smooth muscle in the walls of the bronchial air passages | [] | Flashcards about February 12, 2012 | Question | http://www.studystack.com/flashcard-852740 | 5/1438042988718.8_20150728002308-00057-ip-10-236-191-2_728808513_3.json |
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