Which of the Following Items Affects Total Shareholders' Equity Without

question 131

Multiple Choice

Which of the following items affects total shareholders' equity without being reported on the income statement?

• A)discontinued operations
• B)extraordinary items
• C)sale of common stock at a price above par
• D)purchase of property,plant and equipment in exchange for a long-term note

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Definitions:

Dissociated Limited Partner

A person who has ceased to be involved in a limited partnership either through withdrawal, expulsion, or another mechanism outlined in the partnership agreement.

Management Powers

Refers to the authority given to managers or directors of a corporation or organization to make significant decisions in the day-to-day operations.

Limited Liability

A legal principle that shields an investor's personal assets from the debts and liabilities of the company, limiting loss to the amount invested.

Certificate of Limited Partnership

A legal document filed with a state governmental body that establishes the existence of a limited partnership.