________ Will Not Be Found on the Statement of Retained

question 63

Multiple Choice

________ will not be found on the statement of retained earnings.

• A)Net income
• B)Dividends
• C)Stockholders' equity
• D)Net loss

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Definitions:

Fully Depreciated

The status of an asset whose entire cost has been expensed and has reached the end of its useful life according to accounting standards.

Gain on Disposal

The financial profit obtained from the sale of a fixed asset when the sale price exceeds the book value of the asset.

Loss on Disposal

This reflects the financial loss incurred when an asset is sold or disposed of for less than its recorded book value.

Straight-Line Method

A method of allocating an asset's cost evenly over its useful life for purposes of depreciation.