Identify the Account Used by Businesses to Record the Transfer

question 62

Multiple Choice

Identify the account used by businesses to record the transfer of assets from a business to its stockholders:

• A)A revenue account.
• B)The dividends account.
• C)The common stock account.
• D)An expense account.
• E)A liability account.

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Definitions:

Fixed Fee

A pricing structure where a single, specific amount is charged for a service or product, regardless of usage or time required.

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