All of the Following Are Equity Accounts on a Balance

question 104

Multiple Choice

All of the following are equity accounts on a balance sheet except:

• A) retained earnings.
• B) cash.
• C) common stock.
• D) paid-in capital.

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Definitions:

Requirements Contract

A contractual agreement in which one party agrees to supply as much of a product or service as the other party needs during a specified period.

Particular Commodity

Refers specifically to a unique or specified commodity traded on commodity markets, such as gold, oil, or wheat.

Reaffirmation Promise

A commitment to maintain or adhere to an agreement or obligation, especially after a challenge or dispute.

Debts Barred

Relates to debts that cannot be legally recovered due to the expiration of a statute of limitations.