Gains on Sale of Treasury Stock Should Be Credited To

question 18

Multiple Choice

Gains on sale of treasury stock should be credited to:

• A) Additional contributed capital.
• B) Other income.
• C) Share capital.
• D) Retained earnings.

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Definitions:

Abyssal Plains

Very flat, deep-sea floors found at depths between 3,000 and 6,000 meters, making up a large portion of the ocean's basin.

Oceanic Fracture Zones

Linear oceanographic features caused by the movement of tectonic plates, characterized by significant variations in depth and topography.

Seafloor

The bottom of an ocean or sea, composed of various geological features including ridges, valleys, plains, and trenches, shaped by processes like volcanic activity, sediment deposition, and tectonic movements.

Mid-Ocean Ridges

Oceanic mountain chains that develop due to the movements of tectonic plates, leading to the formation of new sea floor as a result of volcanic eruptions.