question archive All corporate capital stock transactions should ultimately be traced to the a
All corporate capital stock transactions should ultimately be traced to the a
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All corporate capital stock transactions should ultimately be traced to the
a. Minutes of the meetings of the board of directors.
b. Cash receipts journal.
c. Cash disbursements journal.
d. Numbered stock certificates.
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Answer:
The answer is A.
Normally all the transactions related to the capital stock are well documented and auditor should trace all the movements in capital stock during the audit period in minutes of meetings of board of directors.
