[Solved] Which one of the following statements is not true? A) Treasury stock transactions do not result in gains or losses on the income statement. B) The treasury stock account is treated as a contra-shareholders' equity account C) The total amount of shareholders' equity is unaffected by the method used to account for treasury stock. D) Treasury stock transactions may result in an increase to retained earnings. Supreme Court: The highest federal court in the United States, which has ultimate appellate jurisdiction over all federal and state court cases that involve a point of federal law. Conservative Men: Individuals, typically male, who hold traditional values and beliefs, often resistant to change and favoring preservation of the status quo. Pornography: Visual or written content intended to stimulate erotic rather than aesthetic or emotional feelings. Destructive: Causing great and irreparable harm or damage, typically in a deliberate or negligent manner.