Ask Question
BusinessBusiness
26 May, 12:06

Treasury stock is classified as: Multiple Choice A contra asset account. An asset account. A revenue account. A liability account. A contra equity account.

+2
Answers (1)
  1. 26 May, 13:26
    0
    A contra equity account.

    Explanation:

    The treasury stock is neither an asset nor a liability but it is shown in the stockholder equity as a deducted amount so that the accurate equity amount could come

    In this, the dividend and the voting rights are not provided as these shares are repurchased by the company who is issuing.

    Hence, the treasury stock is a contra equity account
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Treasury stock is classified as: Multiple Choice A contra asset account. An asset account. A revenue account. A liability account. A contra ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Which careers are a part of the Finance career cluster?
Answers (1)
Which of the following is usually used to connect a monitor to a computer?
Answers (1)
Riverbed Corporation issued 1,900 shares of $10 par value common stock upon conversion of 950 shares of $50 par value preferred stock. The preferred stock was originally issued at $64 per share.
Answers (1)
A corporation declares a dividend of $0.50 per share on 10,000 shares of common stock. Which of the following would be included in the entry to record the declaration? A. Paid-In Capital in Excess of Par-Common would be credited for $5,000 B.
Answers (1)
Determine which careers you can enter after completing a training program and which careers require a college degree.
Answers (1)
New Questions in Business
The dramatic growth in american exports in the last years of the twentieth century was mainly indicative of
Answers (1)
An agreement to settle a debt for less than the sum claimed is referred to as? a.? rescission. b. a satisfaction. c.? an accord. d.? a promisory estoppel.
Answers (1)
In economics, what is logrolling?
Answers (1)
In year 1 the CPI is 140, and in year 2 the CPI is 154. From year 1 to year 2, Maria's salary rises from $43,000 to $48,000, and Daisy's salary rises from $65,000 to $70,000. Who is "more than keeping up with inflation"?
Answers (2)
Under a perpetual inventory system: a) purchases on account are debited to Purchases. b) purchase returns are debited to Purchase Returns and Allowances. c) freight costs are debited to Freight-Out. d) purchases on account are debited to Inventory.
Answers (1)
Home » Business » Treasury stock is classified as: Multiple Choice A contra asset account. An asset account. A revenue account. A liability account. A contra equity account.
Sign Up Forgot Password?