This answer is FALSE - FUN FACT - Liquidity of money refers to the ease with which the owner of an asset can convert it into cash it is easier to convert common stocks into cash rather than attempt to raise cash from sale or mortgage of real estate assets
individuals that have special voting rights owns a special class of stock called classified stock.
The classified stock refers to class of common stock that comes with special privileges like dividend rights or enhanced voting rights.
Usually, these stock are issued/owned by individual that started or co-start the business.
The classified stock is used to ensure the company's founders maintain its control over the establish company even without owning the majority of the common stock.
Therefore, the individuals that have special voting rights owns a special class of stock called the classified stock.
Read more about classified stock:
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Answer:
$575
Explanation:
Given that,
Opening office supplies = $1,100
Closing office supplies = $475
Office supplies expense for the month = $1,200
Opening stock + Purchases - Closing stock = Consumption
$1,100 + Purchases - $475 = $1,200
$625 + Purchases = $1,200
Purchases = $1,200 - $625
= $575
Therefore, the amount of office supplies was purchased during February is $575.
