Equity is generally classified into two major categories: Select one: a. earned capital and contributed capital. b. contributed capital and appropriated capital. c. retained earnings and unearned capital. d. appropriated capital and retained earnings.

Equity is generally classified into two major categories: Select one: a. earned capital and contributed capital. b. contributed capital and appropriated capital. c. retained earnings and unearned capital. d. appropriated capital and retained earnings.

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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Question

Equity is generally classified into two major categories:

Select one:

earned capital and contributed capital.

contributed capital and appropriated capital.

retained earnings and unearned capital.

appropriated capital and retained earnings.

Definition Definition Remaining net income of the company after the required dividends are paid to shareholders. This surplus money is usually invested back into the business to expand its business operations or launch a new product.

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