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Q: Are you allowed to trade someone elses stock account?
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Can a minor own stock?

A trust for a minor can own stock, but a minor cannot. Someone can own an account or stock in trust for the minor.


How does one go about selling their stock?

There are various ways that one can go about selling their stock. First one must open an account for trading with someone like Scottrade, and then one must have some stock to sell.


How do you enter closing stock in tally?

Closing Stock:-Last years Gross profit*Present year sales account+direct and indirect account+purchase account+opening stock-sales account


How do you invest on stock exchange?

You can invest in the stock market if you have an account with a stock brokerage firm that offers an online trading account. For Ex: you can sign up for a trading account with Merrill lynch and after that you can invest in the stock market through that account. You must be a legal citizen of the country with a tax payer ID to open an account and legally trade in the stock market.


What type of account is capital stock?

Capital Stock is an equity account. You may think of equity as ownership.


Is a common stock account increased by credit?

Yes, credits increases the common stock because common stock has credit as a normal balance of account.


How you record a credit sales?

credit your stock for stocks going out of the account debit the debtors for stock going into his account


What is it called when a company buys back its own stock?

It is called a stock repurchase and is posted to an account called Treasury Stock, a contra-account in the Equity section.


Is treasury stock classified as an assets account?

Treasury Stock is shown in the Equity section of the Balance Sheet as a contra-account.


Can someone become a stock broker?

Yes. Someone can become a stock broker. The proof of this, there are stock brokers.


Is capital stock a permanent or temporary account?

Capital stock is considered a permanent account. Permanent accounts are ones which hold financial information for multiple accounting periods. Capital stock remains in an account until an accountant moves it to another account, which means that it is permanent.


When can you buy stock if you are in bankruptcy?

Normally you can buy stock through a bank if you have an account. If you dont have an account you can try thru a discount broker like Schwab, as long as you have the funds available and can show them you should be able to set up an account and purchase a stock.