A Stock Split Is Recorded as A(n)

question 66

Multiple Choice

A stock split is recorded as a(n) :

• A)regular journal entry.
• B)memorandum entry.
• C)adjusting entry.
• D)closing entry.

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Definitions:

Traditional Format Income Statement

A financial statement that shows a company's revenues, expenses, and profits, typically starting with sales and subtracting cost of goods sold and other expenses.

Merchandise Inventory

The total value of goods held by a company for the purpose of resale.

Selling Expenses

Expenses directly related to the sale of goods or services, like marketing expenses and wages for sales personnel.

Administrative Expenses

Costs related to the general administration of a business, such as salaries of senior executives, legal and accounting services.