If Stock Is Issued for Less Than Par Value the Account

question 137

Multiple Choice

If stock is issued for less than par value the account

• A) Paid-In Capital in Excess of Par is credited.
• B) Paid-In Capital in Excess of Par is debited if a debit balance exists in the account.
• C) Paid-In Capital in Excess of Par is debited if a credit balance exists in the account.
• D) Retained Earnings is credited.

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Definitions:

Thoracic Duct

The largest lymphatic vessel in the human body, responsible for transporting lymph and chyle from the lymphatic system into the circulatory system.

Lymphatic System

A network of tissues and organs that help rid the body of toxins, waste, and other unwanted materials.

Nutrient Absorption

Nutrient absorption is the process through which nutrients from food are taken up into the body's cells from the gut.

Lingual Tonsil

Collection of lymphoid tissue on the posterior portion of the dorsum of the tongue.