A net proceeds to seller form is used to:
A. Show buyers what they can expect to spend
B. Show sellers how much cash They will receive from the sale
C. estimate the property's likely sale price
D. None of the above
Answer: B. Show sellers how much cash They will receive from the sale
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Gibbs Corporation owned 20,000 shares of Oliver Corporation's $5 par value common stock. These shares were purchased in 2009 for $180,000. On September 15, 2013, Gibbs declared a property dividend of one share of Oliver for every ten shares of Gibbs held by a stockholder. On that date, when the market price of Oliver was $21 per share, there were 180,000 shares of Gibbs outstanding. What NET reduction in retained earnings would result from this property dividend?
a. 162,000 b. 378,000 c. 108,000 d. 216,000
In contrasting stock insurers with mutual insurers, which statement is not false?
A. Mutual insurers are owned by the shareholders, and issue participating policies. B. Stock insurers are owned by the shareholders, and issue non-participating policies. C. Stock dividends are tax-free while policy dividends are taxable. D. Non-participating policies can pay out dividends to the policyholders.