Which of the Following Items Will Not Be Disclosed on a Statement

question 154

Multiple Choice

Which of the following items will not be disclosed on a statement of stockholders' equity?

• A)Net income
• B)Issuance of common stock for cash
• C)Extraordinary gains and losses
• D)Issuance of common stock in exchange for noncash assets

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Definitions:

Conversion Costs

The combined costs of direct labor and manufacturing overhead, representing the costs necessary to convert raw materials into finished goods.

Weighted-Average Method

An inventory costing method that calculates cost of goods sold and ending inventory based on the average cost of all goods available for sale.

Cost Per Equivalent Unit

A calculation used in process costing to allocate costs to partially completed units, considering them as fractions of whole units.

Ending Work

The work in process inventory that is yet to be completed at the end of an accounting period.