The Retained Earnings Statement Shows All of the Following except

question 123

Multiple Choice

The retained earnings statement shows all of the following except:

• A)the amounts of changes in retained earnings during the period.
• B)the causes of changes in retained earnings during the period.
• C)the time period following the one shown for the income statement.
• D)beginning retained earnings on the first line of the statement.

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Definitions:

Value

The importance, worth, or usefulness of something, often in terms of money, social benefits, or personal significance.

Shelter Principle

A legal rule in negotiable instruments law that allows a person who obtains a negotiable instrument under certain conditions to acquire greater rights than the transferor had.

Holder-In-Due-Course Status

is a legal status that protects a purchaser of debt when they acquire it for value, in good faith, and without notice of certain adverse claims or potential defenses.

Recover

The process of regaining possession or control of something lost or stolen, or obtaining compensation for a loss.