Treasury stock has a:
A)debit balance,the opposite of other stockholders' equity accounts.
B)credit balance,the same as other stockholders' equity accounts.
C)credit balance,the opposite of other stockholders' equity accounts.
D)debit balance,the same as other stockholders' equity accounts.

Question

Quizplus · Accepted Answer

Treasury stock is the company's own stock that has been reacquired and is held by the company. It is considered a contra-equity account because it has a debit balance, which is the opposite of other stockholders' equity accounts that have a credit balance. Therefore, the correct answer is A.

Treasury Stock Has A