Accounting terminology Listed below are nine technical accounting terms introduc

Question

Accounting terminology Listed below are nine technical accounting terms introduced in this chapter Each of the following statements may (or may not) describe one of these technical terms. In the space provided beside each statement, indicate the accounting term described, or answer "None" if the statement does not correctly describe any of the terms (a) The type of stock whose owners have little say in management of the corporation and whose annual dividend is limited to a preset amount (b) Distribution of cash or other company assets to the owners of a corporation (c) Shares of a corporation's stock that have been issued and then reacquired, but not cancelled (d) An element of stockholders' equity arising from the profitable operations of a business (e) The type of stock most likely to increase dramatically in value if the issuing corporation is extremely successful

Explanation / Answer

preferred stock (a)

dividend (b)

treasury stock (c)

retained earnings (d)

common stock (e)

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