Match Each of the Following Stockholders' Equity Concepts to the Appropriate

question 173

Multiple Choice

Match each of the following stockholders' equity concepts to the appropriate term (a-h) .
-The rules and procedures for conducting a corporation's affairs

• A)Articles of incorporation
• B)Limited liability
• C)Bylaws
• D)Corporation
• E)Public corporation
• F)Board of directors
• G)Private corporation
• H)Dividends

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Definitions:

Normal Balance

The side (debit or credit) of an account that is expected to have a higher balance based on the account type.

Service Revenue

Income earned by a company through the provision of services to customers, as opposed to selling goods.

Rent Expense

The cost incurred by a business or individual for leasing a property or space.

General Ledger

A comprehensive set of accounts that records all financial transactions of a business, showing assets, liabilities, equity, revenue, and expenses.