d. callable. True/False Select "T for True or F" for False for each of the following statement. Then place your choice on the scantron. Please note that statement No 1 will be placed on Number "$1" on the scantron. Make sure to use No. 2 pencil. (I point each) The board of directors carries out the day-to-day operations of the business. 31. 32. Stockholders elect the board of directors who appoints the officers of a corporation 33. One objective of the corporate income statement is to separate the results of continuing operations from those of discontinued operations. Earnings per share information need not be shown for extraordinary gains and losses. to Contributed Capital. 34. 35. A stock split results in a transfer of the market value of the stock from Retained Earnings 36. A stock dividend will cause an increase in total contributed capital at the date the 37 The market interest rate is also called the effective interest rate. 38. Retained earnings are a component of contributed capital. 39. Preferred stock is considered the residual equity of a corporation. 40. Extraordinary gains and losses are a component of income from operations. 41. A gain on the sale of an asset is a component of income from operations. 42. Corporate income statements must be prepared in multistep form. dividend is declared. Gains and losses from the sale of plant assets should be classified as extraordinary on the income statement. 43. 44. A company with a simple capital structure is required to report both basic and diluted earnings per share. 45. A convertible bond is a potentially dilutive security 46. Net income is a component of comprehensive income