As Soon as a Corporation Is Authorized to Sell Stock

question 149

True/False

As soon as a corporation is authorized to sell stock, an accounting journal entry should be made recording the total value of the shares authorized.

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Definitions:

Fontanels

Soft spots on a baby's skull where the bones have not yet fused together, allowing for growth of the brain.

Periosteum

A dense layer of vascular connective tissue enveloping the bones except at the surfaces of the joints.

Articulation

Place where two bones come together; also called joint.

Joint

A point where two or more bones meet in the body, allowing for movement and support.