Identify the event below where information associated with the event most likely will need to be retained for years.
A)The actual cost associated with repairing a customer's car.
B)The employee who answered a customer service phone call.
C)The amount of cash received from issuing stock.
D)A list of services offered by the company as of the start of a fiscal year.

Question

Quizplus · Accepted Answer

The amount of cash received from issuing stock is a financial transaction that affects the equity of a company and is subject to regulatory and tax reporting requirements. Therefore, it must be retained for several years as per legal, tax, and accounting standards.

Identify the Event Below Where Information Associated with the Event