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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Insurance is a means of protection from financial losses due to fire, theft, and other unforeseen events. Companies purchase insurance to protect themselves from...
- Profit center
A profit center refers to a responsibility that incurs costs (and expenses) and also generates revenues. Managers of profit centers are judged on the profitability of their centers.
Accountant is a person who has the education and experience to evaluate the significance of information derived from a company’s financial records. Interpret its impact on operations, and participate in higher management decisions that are made as a result.
- Debit investments
Debit investments are investments in government and corporation bonds. In accounting for debt investments, companies make entries to record...
- Contingent liability
Contingent liability is a potential liability that may become an actual liability in the future. Using the following guidelines, companies should report contingent liabilities:
- Purchase invoice
Purchase invoice refers to a document that supports each credit purchase. This invoice indicates the total purchase price and other relevant information.
- The ledger
The ledger is the entire group of accounts maintained by a company. The ledger keeps in one place all the information about changes in specific account balances.