The Written Document Submitted by a Person Who Has Been

question 65

Multiple Choice

The written document submitted by a person who has been authorized by a shareholder to vote the shareholder's shares at the shareholders' meetings in the event of the shareholder's absence is known as ________.

• A)record date
• B)notice of shareholder's meeting
• C)certificate of authority
• D)proxy card

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Definitions:

Merchandise Purchases

Transactions where a business acquires goods to be sold later, often at a profit.

Retained Earnings

Accumulated net income not distributed to shareholders and reinvested in the company.

Periodic Inventory System

An inventory accounting system where updates to inventory levels are made periodically, usually at the end of a financial reporting period, as opposed to continuously.

Cost of Goods Sold

The direct costs attributable to the production of the goods sold by a company, including material, labor, and overhead expenses.