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13 September, 04:09

Treasury stock is classified as: Multiple Choice A contra asset account. An asset account. A revenue account. A liability account. A contra equity account.

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  1. 13 September, 05:49
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    A contra equity account.

    Explanation:

    The treasury stock is neither an asset nor a liability but it is shown in the stockholder equity as a deducted amount so that the accurate equity amount could come

    In this, the dividend and the voting rights are not provided as these shares are repurchased by the company who is issuing.

    Hence, the treasury stock is a contra equity account
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