Internal Control Over Safeguarding of Assets May Include Controls Relating

question 129

Multiple Choice

Internal control over safeguarding of assets may include controls relating to:

• A) Option A
• B) Option B
• C) Option C
• D) Option D

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Definitions:

Par Value

The nominal or face value of a bond, stock, or coupon as stated by the issuer.

Preferred Stock

A class of ownership in a corporation with a specified dividend that must be paid out before dividends to common stockholders.

Common Stock

A type of equity ownership in a corporation, representing a claim on a portion of the profits and assets.

Subscriptions Receivable-Common Stock

An account representing amounts due from subscribers who have agreed to buy shares of common stock, not yet paid for.