A separate Common Stock account is kept in the general ledger for each common stockholder of a corporation.

Name: A separate Common Stock account is kept in the general ledger for each common stockholder of a corporation.
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A separate Common Stock account is not kept in the general ledger for each common stockholder of a corporation. Rather, there is typically one Common Stock account in the general ledger that represents the total shares of common stock issued by the corporation.

A Separate Common Stock Account Is Kept in the General