Styles Paragraph 8. Current liabilities are defined as those liabilities which will be satisied a. by the end of the operating cycle. b. within one year c. within one year or within the operating cycle, whichever is longer. d. within one year or within the operating cycle, whichever is shorter 9. Which of the following is not a component of stockholders' (owners') equity on the Balance Sheet? a. retained eamings b. dividends payable C. capital (common) stock d. All are reported in the stockholders equity section 10. Authorized stock represents the a. maximum number of shares that can be issued b. number of shares that have been sold. c. number of shares that are currently held by stockholders d. number of shares that have been repurchased by the corporation. 11. The Retained Earnings account balance for a large corporation is $10,000,000. This amount represents a. earnings that have not been distributed to shareholders. b. cash in the bank c the amount of cash available for dividends d. revenues for all past years of operations 12. When a company declares a 2-for-1 stock split a. owners' equity is doubled b. there is no effect on total owners equity c a shareholder who previously held 100 shares vwill have 50 shares after the split