Exam Question
All of the following are true of shareholders’ equity except
- 1) it represents the combined total of the firm’s current and long term assets
- 2) it represents the total contribution and ownership interest of preferred and common shareholders
- 3) the three basic components are preferred stock, common stock, and retained earnings
- 4) it represents the difference between the firm’s assets and liabilities
View Answer
Answer 1) it represents the combined total of the firm’s current and long term assets
Practice set and Exam Quiz
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