Question

Corporate stock can be divided into categories called ________, which can be further divided into ________.

a. authorized shares, classes.
b. equity, assets.
c. classes, series.
d. debentures, bonds.

Answer 1

c. classes, series.

Step-by-step explanation:

Corporate stock refers to the shares issued to the shareholders through which the company gets its funds for the business.

These shares are of two classes mainly:

Equity and Preference

These are further divided into series like:

Equity = Fully paid, 50% paid

Preference = 5% Preference or 10% preference capital or any other rate.

Further it includes, the reserve and surplus also.