Which One of the Following Entries Would Not Be Likely $\quad$

question 19

Multiple Choice

Which one of the following entries would not be likely to be made by a corporation?

• A) Land \(\quad \)\(\quad \)\(\quad \)\(\quad \)XX
• Common Stock, $10 stated value \(\quad \)\(\quad \)XX
• Additional Paid-in Capital on Common Stock \(\quad \)\(\quad \)XX
• B) Cash\(\quad \)\(\quad \)\(\quad \)\(\quad \)\(\quad \) XX
• Common Stock, no-par \(\quad \)\(\quad \)XX
• Additional Paid-in Capital on Common Stock \(\quad \)\(\quad \)XX
• C) Cash\(\quad \)\(\quad \)\(\quad \) XX
• Subscriptions Receivable: Common Stock \(\quad \)\(\quad \)XX
• Common Stock Subscribed \(\quad \)\(\quad \)XX
• Additional Paid-in Capital on Common Stock \(\quad \)\(\quad \)\(\quad \)XX
• D) Building\(\quad \)\(\quad \)\(\quad \) XX
• Common Stock, no-par \(\quad \)\(\quad \)XX

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Definitions:

Discretion

The freedom to decide what should be done in a particular situation, often involving judgment and choice.

Notify

To formally or officially inform someone about a fact, situation, or requirement.

Subject of Agency

The entity or matter that is represented or acted upon by an agent, within the context of a legal or business relationship.

Commissions

Payments made to agents or employees based on the value of sales or services they have directly facilitated or sold.