During a 12-Month Period, a Company Is Permitted to Issue

question 78

Multiple Choice

During a 12-month period, a company is permitted to issue new securities through crowdfunding up to a limit of:

• A) $200 thousand.
• B) $500 thousand.
• C) $1 million.
• D) $5 million.
• E) $50 million.

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Definitions:

Adjusting Entry

A journal entry made at the end of an accounting period to allocate revenues and expenses to the period in which they actually occurred.

Office Supplies

Items used in an office for daily work such as pens, paper, staplers, and calculators.

Physical Count

A manual counting process of inventory or other assets on hand to verify quantities or conditions at a specific point in time.

Straight-Line Depreciation

A method of depreciating an asset evenly over its useful life, resulting in equal annual depreciation expenses.