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Related Flashcards
Cards In This Set
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The amount of stock that a Corporation is authorized to sell as indicated in its charter.
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Authorized Stock
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A pro rata (proportional to ownership) distribution of cash to stockholders.
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Cash Dividend
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A document that describes a Corporation's name and purpose; types of stock and number of shares authorized; names of individuals involved in the formation; and number of shares each individual has agreed to purchase.
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Charter
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A company organized as a separate legal entity, with most of the rights and privileges of a person.
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Corporation
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A feature of preferred stock entitling the stockholder to receive current and unpaid prior-year dividends before common stockholders receive any dividends.
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Cumulative Dividend
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The date the Board of Directors formally authorizes the dividend and announces it to stockholders.
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Declaration Date
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A debit balance in retained earnings.
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Deficit
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A distribution by a corporation to its stockholders on a pro rata (proportional to ownership) basis.
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Dividend
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Preferred dividends that were supposed to be declared but were not declared during a given period.
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Dividends in Arrears
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The amount of capital that must be retained in the business for the protection of corporate creditors.
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Legal Capital
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Capital stock that has not been assigned a value in the corporate charter.
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No Par Value Stock
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Capital stock that has been issued and is being held by stockholders.
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Outstanding Stock
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The amount stockholders paid in to the corporation in exchange for shares of ownership.
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Paid in Capital
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Capital stock that has been assigned a value per share in the corporate charter.
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Par Value Stock
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The date cash dividend payments are made to stockholders.
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Payment Date
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