Which of the Following Accounts Used to Record the Issue

question 5

Multiple Choice

Which of the following accounts used to record the issue of shares is a permanent account?

• A) Application
• B) Call
• C) Share capital
• D) Allotment

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Definitions:

Long-Run Equilibrium

A state in which all firms in an industry are producing at their minimum long-run average cost, and the market supply equals market demand.

Profit-Maximizing Quantity

The level of production at which a company can achieve the highest possible profit.

Panel

A group of people selected to discuss, investigate, or decide on matters pertaining to a particular subject or to give expert advice.

Intersection

The point at which two or more lines, streets, or elements meet or cross.