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College Accounting
Quiz 20: Corporations: Formation and Capital Stock Transactions
When Common Stock Is Issued,the Par Value,or Stated Value,of the Shares
Question 11
True False
When common stock is issued,the par value,or stated value,of the shares issued is recorded in the Common Stock account.
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Q 12
Organization costs are carried indefinitely as an intangible asset in the records of the corporation.
Q 13
Organization costs are often expensed when incurred.
Q 14
Preferred Stock is shown in the Stockholders' Equity section of the balance sheet.
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