11. The fair value of a corporation's shares is determined by the number of shares that the corporation has been authorized to issue.
12. A privately traded corporation would be traded on a national securities exchange such as the London Stock Exchange.
13. In most countries, a corporation’s creditors’ claim can only be paid out of that corporation’s assets.
14. Ownership rights in a corporation are evidenced by ordinary shares.
15. Ownership rights of a shareholder include the right to be involved in the daily operations of the corporation.
16. Corporations can pay dividends out of share capital in most countries.
17. When no-par ordinary shares that have a stated value are issued, the stated value is credited to Share Capital-Ordinary.
18. The par value of shares issued for noncash assets is never a factor in determining the cost of the assets received.
19. The acquisition of treasury shares by a corporation increases total assets and total equity.
20. Treasury shares purchased for $25 per share that are reissued at $20 per share, result in a Loss on Sale of Treasury Shares being recognized on the income statement.