A Balance Sheet Lists

question 165

Multiple Choice

A balance sheet lists:

• A)The types and amounts of the revenues and expenses of a business.
• B)Only the information about what happened to equity during a time period.
• C)The types and amounts of assets, liabilities, and equity of a business as of a specific date.
• D)The inflows and outflows of cash during the period.
• E)The assets and liabilities of a company but not the retained earnings.

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Definitions:

Stated Value

An assigned value to no-par value stock by the company for accounting purposes, often used to meet state regulations.

Common Stock

A type of equity security that represents ownership in a corporation, entitling holders to a share of the company's profits and voting rights.

Par Value

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

Paid-in Capital

Paid-in capital represents the funds raised by a company through the sale of stock to shareholders, above the par value of the shares.