 In this presentation, we will take a look at multiple choice questions related to corporations. First question, primary class of stock, a, preferred stock, b, normal stock, c, common stock, d, standard stock, and e, stock. So let's go through this again. We're going to use the process of elimination to see if we can eliminate some of these options and narrow them down. Primary class of stock, a, preferred stock. So the primary class, I'm thinking the question is trying to ask, what's the most normal share of stock? What's the, if we buy stock in a corporation, what are the primary stockholders' shares? Preferred stock is not them. That's going to be a preferred or kind of a special stock or a different stock. It's not really preferred, it's preferred in terms of it gets paid dividends before other stocks. Benefits and negatives to other types of stock. So it's not preferred stock. Normal stock, that seems kind of like it might be a normal stock. So I'll keep that for now. Common stock, now that one probably rings a bell. We might hear a common stock that kind of rings a bell. The d says standard stock, which sounds nice because it has two s's in it and whatnot, but I don't think that's a thing. I don't think there's a standard stock. So I'm going to cross that for now. And then e says stock and that doesn't really expand on what type of stock, so it's just a normal stock. So I'm going to say that's probably not it. So between b and c, we'll go through this again. Primary class of stock is either b or c, either normal stock or common stock. And between those two common stock is probably the one that sounds more familiar because that's the most common form of stock. So the primary class of stock is c, common stock. Next question. Stockholders' equity includes a, fixed assets, b, paid in capital and retained earnings, c, unearned revenue, d, current assets, and e, discounts. We'll go through this again and see if we can use the process of elimination to narrow this down. Stockholders' equity includes a, fixed assets. Now the equity section is, you know, the account equation is assets, liabilities, and equity. And so if the term has assets in it, probably not part of the equity section most likely. So it's not going to be a. It's not going to be any kind of asset, whether it be fixed, current, noncurrent. So b says, paid in capital and retained earnings. For a corporation, we may not know what paid in capital is or retained earnings, but we probably recognize retained earnings as part of the equity section. So I'm going to keep that for now. C says unearned revenue. Now that one could be confusing because we have the term revenue in it and we know that revenue is kind of an income statement account, but unearned revenue is actually a liability account. It's, you know, we got paid and we didn't yet do the work. And so liabilities aren't going to be in the equity section. So then d says current assets, and again it's an asset, it's not an equity thing, it says asset in the name, so it's not that. And then e says discounts. And discounts is generally on, it could be on the income statement as like a contra revenue account, a sales discount at least. So possibly, you know, we can think of that as part of equity in a way because it closes out to net income and net income is part of equity. So I'm going to keep b and e and go through this again. Stockholders' equity includes either b or e either paid in capital and retained earnings or e discounts. So of those two, I would think that retained earnings is most familiar because that's clearly in the equity section. And then it's between paid in capital and discounts, and between those two paid in capitals is actually in the equity section, whereas discounts is kind of part of net income, which would roll into retained earnings. So that would be, I guess, less correct. Most correct would be the b as the correct answer. Last time, stockholders' equity includes b paid in capital and retained earnings.