Exam 13: Corporations: Organization and Capital Stock Transactions

A stockholder has the right to vote in the election of the board of directors.

Treasury stock should not be classified as a current asset.

A corporation can issue more shares than it is authorized in its charter if the board of directors approves of an increase in the number of authorized shares.

Stockholders elect the _______________ who in turn hire the ______________ of the company who have day to day responsibility for running the corporation.