Which of the Following Journal Entries Doesn't Reflect the Initial $\quad$

question 16

Multiple Choice

Which of the following journal entries doesn't reflect the initial cash sale of shares of common stock?

• A) Cash
• \( \quad \)\( \quad \)Common stock (no par)
• B) Cash
• \( \quad \) Common stock (par value)
• \( \quad \) Capital in excess of par
• C) Cash
• \( \quad \) Common stock (stated value)
• D) Cash
• \( \quad \) Common stock (stated value)
• \( \quad \) Gain on sale of stock

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Definitions:

Money Supply

The aggregate economic assets in monetary form at a specific period in an economy.

Demand for Goods and Services

The consumers' desire and willingness to pay for products or services at a given price point.

Higher Level of Unemployment

A state in which there is a larger than usual number of people without jobs, indicating increased job scarcity or economic downturns.

Business Cycle

The fluctuations in economic activity characterized by periods of economic expansion and contraction over time.