John Contributed $6,000 to the Business by Opening a Bank

question 255

True/False

John contributed $6,000 to the business by opening a bank account in the name of the business, United Marketing. The corporation issued common stock to John. This transaction results in an increase in the assets of the business.

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Definitions:

Equivalent

Something that is equal in value, function, or meaning to something else, often used in comparisons.

Baseball Cards

Collectible items featuring baseball players, teams, or related themes, often traded or sold amongst enthusiasts and considered valuable based on rarity and condition.

Contract Modifications

Changes made to the terms and conditions of an existing contract, agreed upon by all parties involved.

Bad Faith

Intentional dishonest act or failure to act, which misleads or deceives others, often in legal or contractual contexts.