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226.are responsible for and have final authority for managing a corporation'sactivities.227. Stockholders who are not officers or managers of a corporation do not have the power to bind the corporation to contracts. This is called.228.A corporation is responsible for its own acts and debts. This is because a corporation is considered a .229.Theprotects stockholders' proportional interest in a corporation by allowingthem to purchase their proportional share of any common stock later issued by the corporation.230.A stockkeeps stockholder records and prepares official lists of stockholders forstockholder meetings and dividend payments.231 .A stockassists with purchases and sales of shares of stock by receiving andissuing certificates as necessary.232.is the number of shares that a corporation's charter allows it to sell.233.The total amount of cash and other assets the corporation receives from its stockholders in exchange for common stock is called.234.The cumulative net income and loss retained by a corporation is called.235.Stock that has been issued and is held by stockholders isstock.236.is a class of stock assigned a value by the corporation in its charter.237.Stock that is not assigned a value per share by the corporate charter is called.23 8.No-par stock to which the directors assign a value per share is called.239.is a general term that refers to any shares issued to obtain owner financing in acorporation.240.The least amount that the buyers of stock must contribute to the corporation or be subject to paying at a future date is called.241.Retained earnings generally consists of a company's cumulativeless anyand.

242.has special rights that give it priority or senior status over common stockin one or more areas such as receiving dividends or for the distribution of assets if the corporation is liquidated.243.are corrections of material errors in prior period financialstatements.244.is the amount of income earned per share of a company's outstanding common stock.245.is the stockholders' equity applicable to common sharesdivided by the number of common shares outstanding.246.is the annual amount of cash dividends distributed to commonshareholders relative to the stock's market price.247.The price-earnings (PE) ratio is calculated by dividingby.248.Dividend payment involves three important dates. They are,, and.249.Holders ofhave a right to be paid both current and all prior periods'unpaid dividends before any dividend is paid to common shareholders.250.When preferred stock is cumulative and the directors either do not declare a dividend to preferredstockholders or declare one that does not cover the total amount of cumulative dividends, the unpaid amount is called.