Changes in retained earnings are commonly reported in the:
A) Statement of cash flows.
B) Balance sheet.
C) Statement of stockholders equity.
D) Multiple-step income statement.
E) Single-step income statement.
C) Statement of stockholders equity.
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What is the effect of the payment of an account payable on the current ratio and the quick ratio, respectively? (Assume the current ratio was 2.3 times and the quick ratio was 2.1 times before this transaction.)
a. Decrease in current ratio; no effect on quick ratio b. Increase in current ratio; increase in quick ratio c. No effect on current ratio; no effect on quick ratio d. Decrease in current ratio; decrease in quick ratio
What is the investment capital funding sought at the expansion or growth stage of the venture called?
a. Seed b. Seed A c. Series B d. Series C
Average-cost pricing
A. cannot be profitable, because it ignores demand. B. will result in losses if actual sales are much higher than expected. C. usually assumes the firm will sell a larger quantity than the year before. D. might cause a firm to charge too high or too low a price-and reduce its profits. E. All these answers are correct.
A partnership is not required to have ________ to be valid.
A. at least two partners B. a written partnership agreement C. partners who co-own the partnership business D. the purpose of earning a profit