A company may prepare a statement of retained earnings instead of a statement of stockholders' equity if the only changes in the stockholders' equity accounts that occurred during the year are earnings and dividends
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
Occasionally, companies engage in important investing and financing activities which do not affect cash. If the amount of the transaction is significant, how should it be disclosed when financial statements are prepared?
a. In the investing section if the amount of investing activities are greater than the financing activities amount. b. In the financing section if the amount of financing activities are greater than the investing activities amount. c. In a note to the financial statements or in a supplemental schedule. d. The transaction does not need to be disclosed.
Answer the following statements true (T) or false (F)
1. Under the differential rate system proposed by Frederick Taylor, employees should be paid on the basis of seniority. 2. Administrative management is most concerned with the jobs of individuals. 3. The first person to identify the major functions of management was Henri Fayol. 4. Bureaucracy, as conceptualized by Max Weber, was his ideal way to structure an organization.
A debit to Accumulated Depreciation will increase the carrying value of an asset
Indicate whether the statement is true or false
When manufacturing overhead is charged to a job, the work in process account is credited
Indicate whether the statement is true or false