8. What special powers have the directors? In what way do the powers of officers and directors differ?
9. Name five of the necessary powers of a corporation, as such. Name three of the rights of an individual stockholder.
10. What is meant by a dividend? By whose authority are dividends declared? What is your understanding of the term stock dividend?
11. What class of records is implied by the term corporation bookkeeping? Name, and describe briefly, the books used in corporation bookkeeping.
12. Give examples of the proper entries on the books, under the following conditions:
(a) The entire capital stock ($100,000.00) is subscribed and paid for in cash.
(b) Only $60,000.00 of the stock is subscribed, but this is paid in cash. It is not desired to show on the books more capital than is paid in.
(c) Cash subscriptions are received for $49,000.00 of an authorized issue of $100,000.00, but it is desired to show the total capitalization on the books.
(d) The entire capital stock ($150,000.00) is subscribed but not paid in. It is desired to show the capital stock, without opening accounts in the general books with individual subscribers.