ACC 304 All Assignments ACC 304 All Assignments | Page 39

a. a claim to specific assets contributed by the owners.
b. the maximum amount that can be borrowed by the enterprise.
c. a claim against a portion of the total assets of an enterprise.
d. only the amount of earnings that have been retained in the
business.
27.
A primary source of stockholders' equity is
a. inc ome retained by the corporation.
b. appropriated retained earnings.
c. contributions by stockholders.
d. both income retained by the corporation and contributions by
stockholders.