Treasury stock is shown in a company's financial statements as a(n):
A)intangible asset
B)contra equity
C)current asset
D)contra asset

Name: Treasury stock is shown in a company's financial statements as a(n): A)intangible asset B)contra equity C)current asset D)contra asset
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Question

Quizplus · Accepted Answer

Treasury stock represents shares that were issued and subsequently reacquired by the company. It is recorded as a deduction from total shareholders' equity, making it a contra equity account, not an asset.

Treasury Stock Is Shown in a Company's Financial Statements as A(n)