____________________ Is the Name Given to Revenue,expense,and Dividend Accounts Because

question 58

Short Answer

____________________ is the name given to revenue,expense,and dividend accounts because they are closed at the end of the period.

---

Definitions:

Share Split

A corporate action in which a company divides its existing shares into multiple shares to boost the liquidity of the shares, although the overall value of the shares remains the same.

Net Value

represents the final value of an asset or transaction after deducting all costs, expenses, and liabilities.

Capital Surplus

A balance sheet account; the portion of shareholders’ contributions exceeding the par or stated value of shares. Also called additional paid in capital.

Derivative Action

A lawsuit brought by shareholders on behalf of a corporation against third parties, typically involving claims of mismanagement or abuse by corporate officers.