Examlex
For each of the following, identify in column 1 the category to which the account belongs, in column 2 the normal balance for the account, in column 3 the financial statement that the account in which the account balance is reported, and in column 4 the account's nature (permanent/temporary).
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Legal Capital
The portion of a company's equity that cannot legally be distributed to the shareholders as dividends, typically the par value of issued shares.
Corporate Creditors
Individuals or institutions owed money by a corporation, typically as a result of lending money or providing goods and services on credit.
IFRS
International Financial Reporting Standards are accounting guidelines created by the International Accounting Standards Board, increasingly adopted worldwide for drafting financial statements of public companies.
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