Table of contents

1. Introduction to Accounting1h 21m
2. Transaction Analysis1h 13m
3. Accrual Accounting Concepts2h 38m
4. Merchandising Operations2h 30m
5. Inventory1h 55m
6. Internal Controls and Reporting Cash1h 16m
7. Receivables and Investments3h 8m
8. Long Lived Assets5h 1m
9. Current Liabilities2h 19m
10. Time Value of Money1h 23m
- Time Value of Money Equations
  35m
- Using Time Value of Money Tables
  47m
11. Long Term Liabilities2h 45m
12. Stockholders' Equity2h 15m
13. Statement of Cash Flows2h 24m
14. Financial Statement Analysis5h 25m
15. GAAP vs IFRS56m

12. Stockholders' Equity

Characteristics of a Corporation

Financial Accounting

12. Stockholders' Equity

Characteristics of a Corporation

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Multiple Choice

Which document determines the number of shares a corporation is authorized to issue?

Articles of Incorporation

Corporate Bylaws

Shareholders' Agreement

Board of Directors' Minutes

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Verified step by step guidance

Understand the purpose of each document listed in the options. Articles of Incorporation, Corporate Bylaws, Shareholders' Agreement, and Board of Directors' Minutes serve different roles in corporate governance.

Learn that the Articles of Incorporation are the foundational legal document filed with the state to establish a corporation. This document typically includes details such as the corporation's name, purpose, and the number of shares it is authorized to issue.

Recognize that Corporate Bylaws are internal rules and procedures for managing the corporation, but they do not determine the number of shares authorized to issue.

Understand that the Shareholders' Agreement outlines agreements between shareholders, such as voting rights and transfer of shares, but it does not specify the number of shares authorized.

Note that the Board of Directors' Minutes record decisions made during board meetings, but they do not establish the number of shares a corporation is authorized to issue. Therefore, the correct document is the Articles of Incorporation.