True or false. Please answer all even without explainations

1. When ordinary shares with par value are sold, the proceeds should be credited to the ordinary shares account in full.
2. The par value of a share of share capital is an indication of the book value of the share of stock
3. When ordinary shares without par value are sold, the proceeds should be credited to the ordinary share account.
4. The liability of a shareholder is usually limited to the shareholder’s investment in the corporation.
5. When ordinary shares with par value are sold, the proceeds should be credited to the ordinary shares account to the extent of the par value of the shares.
6. Ordinary shares may be issued at a price lower than its par value.
7. When no-par ordinary shares have a stated value, the stated value of the shares issued normally is considered the legal capital of the corporation.
8. The entry to record the purchase of treasury stock will cause total shareholders’ equity to decrease by the amount of the cost of the treasury shares.
9. The entire consideration received by the corporation for its no par value shares shall be treated as capital and shall not be available for distribution as dividends.
10. Treasury stock may be either ordinary or preference share.
11. The par value of share refers to its value on the open market.
12. Preference share is considered the residual equity of a corporation.
13. Organization cost is an asset and is usually amortized over 5 years.
14. Organization cost is a liability and is usually amortized over 3 years.
15. The sale of shares in a corporation by one shareholder to another affects the total capital of the corporation.

Answer rating: 100% (QA)

False Because par value is full face valueAt the point when the offers with standard worth are sold the returns ought to be attributed to the Ordinary ... View the full answer