Question

Identify the account used by businesses to record the transfer of assets from a business to its stockholders: Multiple Choice The Common stock account. An expense account. A liability account. A revenue account. The Dividends account.

Answer 1

Answer:

Common stock

Explanation:

The common stock has the credit balance which is shown in the liabilities side of the balance sheet

While transferring the assets from business to it stockholders we used the common stock account as it includes the capital of the company, preferred stock, common stock, etc

Therefore the first option is correct