Question

A summary of changes in the earnings retained by the corporation and of changes in the...

A summary of changes in the earnings retained by the corporation and of changes in the capital stock for a corporation for a specific period of time is known as a(n):

a. Statement of Stockholders' Equity.

b. balance sheet.

c. statement of cash flows.

d. income statement.

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Answer #1

The correct answer is a. Statement of Stockholder's Equity.

This is because this statement states the amount of change in the retained earnings from the beginning of an accounting period to the end of an accounting period and also specifies the changes in the capital structure of the company during the simiar period.

Further, the balance sheet provides an overall presentation of the assets and liabilities of the company.

On the other hand, the statement of cash flows represent the total amount of cash inflows and outflows during an accounting period.

The income statement identifies the revenues and expenditures of the company pertaining to a specific accounting period.

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