The Statement of Retained Earnings Lists

question 53

Multiple Choice

The statement of retained earnings lists:

• A)assets, liabilities and stockholders' equity.
• B)the changes in retained earnings.
• C)assets, liabilities, revenues and expenses.
• D)revenues and expenses.

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Definitions:

Bank Service Charge

Fees charged by banks for various services such as account maintenance, transactions, or overdrafts.

Deposits In Transit

Funds that have been received and recorded by a business but not yet recorded by the bank.

Outstanding Checks

Outstanding Checks are issued checks recorded by the issuing entity but have not yet been cashed or cleared by the bank, impacting the reconciling of bank statements.

NSF Check

A check that cannot be processed because the writer has insufficient funds.