To Wrap Text Around the Bounding Box That Surrounds SmartArt

question 112

Short Answer

To wrap text around the bounding box that surrounds SmartArt, select the Through wrap text option.

Understand the basic structure and types of capital stock in a corporation.

Distinguish between privately held and publicly traded corporations.

Identify the components of stockholders' equity.

Comprehend the processes and limitations of issuing corporate shares.

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Definitions:

Periodic Inventory Method

An accounting method which involves physically counting the inventory at specific intervals to determine the cost of goods sold and the ending inventory balance.

Income Summary

An account used in the closing process that aggregates all income and expenses to determine the net income or loss for the period.

Merchandise Inventory

The goods a company has available for sale to customers, considered a current asset on the balance sheet.