Examlex
Which of the following would probably be treated as a capital item by a large clothing manufacturer?
Stock Split
A corporate action in which a company divides its existing shares into multiple shares to boost the liquidity of the shares.
Warranty of Authority
A representation that a person who purports to act on behalf of another (an agent) has the necessary authority to do so.
Bankruptcy
A legal process for individuals or businesses that are unable to repay their outstanding debts, allowing for the distribution of assets to creditors, potentially leading to the discharge of remaining debts.
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