What Are the Two Categories of Shareholders' Equity Usually Found

question 18

Multiple Choice

What are the two categories of shareholders' equity usually found on the statement of financial position of a corporation?

• A) Retained earnings and notes payable.
• B) Share capital and property, plant, and equipment.
• C) Contributed capital and retained earnings.
• D) Share capital and long-term liabilities.

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Definitions:

Preoperational

A stage in Jean Piaget’s theory of cognitive development where children from about 2 to 7 years old engage in symbolic play but lack operations (logical rules) for consistent reasoning.

Concrete Operational

A stage in Piaget's theory of cognitive development where children (ages 7-11) can think logically about concrete events.

Formal-Operational

Formal-operational stage is a phase in Piaget's theory of cognitive development when individuals gain the ability to think abstractly, logically, and systematically.

Intuitive Stage

A stage in Piaget's theory of cognitive development, occurring roughly between the ages of 4 and 7, where children start using intuition and perception but lack logical reasoning.