Multiple Choice
Kamal sold cryptocurrency in 2021. Which form or schedule should he use to report the income from this sale on his U.S. federal tax return?
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1. Introduction to Accounting
Types of Accounting
Struggling with Financial Accounting?
Join thousands of students who trust us to help them ace their exams!Watch the first videoMultiple Choice
Which of the following is another term for the shareholders of a firm?
A
Employees
B
Creditors
C
Equity holders
D
Debtors
Verified step by step guidance1
Understand the question: The problem is asking for another term used to describe the shareholders of a firm.
Recall the definition of shareholders: Shareholders are individuals or entities that own shares in a company, representing partial ownership of the firm.
Identify the correct term: Shareholders are also referred to as 'Equity holders' because they hold equity (ownership interest) in the company.
Eliminate incorrect options: Employees, creditors, and debtors are not terms used to describe shareholders. Employees work for the company, creditors lend money to the company, and debtors owe money to the company.
Conclude: The correct term for shareholders is 'Equity holders,' as they own a portion of the company's equity.
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