Answered: Which of the following are the three…

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Which of the following are the three basic elements of the balance sheet of a corporation?

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter13: Choice Of Business Entity—general Tax And Nontax Factors/formation

Section: Chapter Questions

Problem 29DQ

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Question

Which of the following are the three basic elements of the balance sheet of a corporation?

Group of answer choices

A.. Revenues, Expenses and Retained Earnings.

B. Assets, Liabilities and Stockholders' Equity.

C. Assets, Liabilities and Common Stock.

D. Assets, Liabilities and Retained Earnings.

Definition Definition Assets available to stockholders after a company's liabilities are paid off. Stockholders’ equity is also sometimes referred to as owner's equity. A stockholders’ equity or book value generally includes common stock, preferred stock, and retained earnings and is an indicator of a company's financial strength.

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