Examlex
For each of the following, identify in column 1 the category to which the account belongs, in column 2 the normal balance for the account, in column 3 the financial statement that the account in which the account balance is reported, and in column 4 the account's nature (permanent/temporary).
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Voting Stock
Shares that grant the holder the right to vote on company matters, such as the election of the board of directors.
Book Value
An accounting term denoting the portion of the company held by the shareholders at accounting value, not market value.
Fair Value
A financial standard used to determine the fair market price of an asset or liability for transactional or reporting purposes based on current market conditions.
Initial Value Method
A method of accounting for investments, where the investment is recorded at its original cost without recognizing subsequent changes in fair value.
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