When Accounting for Share Issues, the Ultimate Debit and Credit

question 38

Multiple Choice

When accounting for share issues, the ultimate debit and credit entries are to which accounts?

• A) DR Bank; CR Share capital
• B) DR Bank; CR Allotment
• C) DR Share Capital; CR Bank
• D) DR Application; CR Share capital

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Definitions:

Polyplacophora

A class of marine mollusks known as chitons, characterized by their eight-plated dorsal shells and grazing habits.

Intertidal Zone

The marine shoreline area between the high-tide mark and the low-tide mark.

Filter Feeders

organisms that feed by straining suspended matter and food particles from water, typically done by aquatic animals.

Mode of Nutrition

The method by which an organism obtains its food and energy, varying across species from photosynthesis in plants to different forms of heterotrophy in animals.