Can A Minor Be A Shareholder In A Corporation? Since corporate law does not restrict ownership of shares to adults, stock in your small corporation or family business can legally be placed in the minor’s name by recording the child as the registered owner of the shares in your corporation’s stock register. Is there a
What Are The 5 Generally Accepted Accounting Principles? Revenue Recognition Principle. When you are recording information about your business, you need to consider the revenue recognition principle. … Cost Principle. … Matching Principle. … Full Disclosure Principle. … Objectivity Principle. What are the 4 principles of GAAP? Four Constraints The four basic constraints associated with
What Is Maintaining Books Of Accounts? Cash flow statement. Records of sales and purchases. Records of assets and liabilities. Items of cost. Deeds, vouchers, writing, documents, minutes, and registers whether in physical or electronic mode. Why do we maintain books of accounts? Maintaining regular books of accounts gives you your financial status at a glance.