Composite Stock Price Tables Are a Result of the

question 47

Multiple Choice

Composite Stock Price Tables are a result of the

• A) Securities Act of 1933.
• B) Securities Act Amendments of 1975.
• C) Securities and Exchange Act of 1934.
• D) Investment Companies Act of 1940.

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Definitions:

Real Accounts

Accounts related to assets, liabilities, and equity that are not closed at the end of the accounting period.

Nominal Accounts

Accounts that are closed at the end of each accounting period, including revenue, expense, and withdrawal accounts, which are used to calculate the period's net income or loss.

Income Summary

An account in the ledger that is used to summarize the revenue and expenses of a period, facilitating the transfer of their net effect to retained earnings.

Net Income

The final earnings of a corporation once expenses and taxes are subtracted from its gross income.