Sales Receipts,purchase Orders,and Payroll Records Are All Examples of Accounting

question 63

Multiple Choice

Sales receipts,purchase orders,and payroll records are all examples of accounting transactions that would be recorded by an) :

• A)Auditor.
• B)Forensic accountant.
• C)Bookkeeper.
• D)Purchasing agent.

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Definitions:

Retained Earnings

The portion of a company's profits that is kept or retained for re-investment in the business or to pay debt, rather than being paid out as dividends to shareholders.

Treasury Stock

Shares that were issued and later reacquired by the issuing company, reducing the amount of outstanding stock on the market.

Issue Price Over Par

Occurs when a security, typically a bond, is sold at a price higher than its face value.

Preferred Stock

A class of shares which typically provides a fixed dividend and has priority over common stock in the distribution of assets during liquidation.