Publicly held corporation is a corporation that may have thousands of stockholders and whose stock is regularly traded on a national securities exchange such as the New York Stock Exchange. Most of the largest U.S. corporations are publicly held. Examples of publicly held corporations are Intel, IBM, Caterpillar Inc., and General Electric.
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Drawings refer to the withdrawal of cash or other assets from an unincorporated business for the personal use of the owner. Drawings decrease the owner’s equity.
- Three-column of account
Three-column of account is a form with columns for debit, credit, and balance amounts in an account. The balance in the account is determined after each transaction
- Cash-basis accounting
Cash-basis accounting is an alternative to the accrual basis refers to an accounting basis in which companies record revenue when they receive cash and an expense...
- Debenture bonds
Debenture bonds also known as unsecured bonds issued against the general credit of the borrower.
A business organized as a separate legal entity under state corporation law and having ownership divided into transferable shares of stock is a corporation.
- Limited partner & Limited partnership
Limited partner is a partner whose liability for the debts of the firm is limited to that partner’s investment in the firm. Limited partnership refers to a partnership...
- Unearned income
Income received though a part of it is not applicable to the current year but will be earned during the following year is called