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Direct cost incurred to sell stock such as underwriting cost should be accounted for as?: 1. a reduction of additional paid-in captial 2. an expense of the period in which the stock is issued. 3. an intangible asset instructions: which of the above is correct a. 1 b. 2 c. 3 d. 1 or 3

Direct cost incurred to sell stock such as underwriting cost should be accounted for as?: 1. a reduction of additional paid-in captial 2. an expense of the period in which the stock is issued. 3. an intangible asset instructions: which of the above is correct a. 1 b. 2 c. 3 d. 1 or 3

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Direct cost incurred to sell stock such as underwriting cost should be accounted for as?:

1. a reduction of additional paid-in captial

2. an expense of the period in which the stock is issued.

3. an intangible asset

instructions: which of the above is correct

a. 1

b. 2

c. 3

d. 1 or 3

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