Your Computer and Car Should Both Be Listed on the Asset

question 208

True/False

Your computer and car should both be listed on the asset side of your personal balance sheet.

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Definitions:

Statutory Close Corporation Supplement

Additional legal provisions applicable to a close corporation, which is tightly held, usually bypassing some of the formalities of a regular corporation.

Appraisal Remedy

A right that allows shareholders to demand a judicial determination of the value of their shares during certain corporate actions, such as mergers.

Articles of Incorporation

Official papers submitted to a governmental authority to officially register the formation of a company.

Assets Obligations

Duties or debts that an individual or entity is required to fulfill based on ownership of assets.