Quiz 17.90 & 18.30 – Statement of Comprehensive Income
Intermediate Accounting
Spiceland, Nelson, and Thomas
10th Edition
Which of the following items is not included in a statement of comprehensive income?
Which of the following items is not included in a statement of comprehensive income?
Which of the following is NOT included in a statement of comprehensive income?
Paid-in capital can include amounts invested by non-shareholders.
Mandatorily redeemable preferred stock is classified as a liability on financial statements. True or false?
Preferred stock typically has priority in receiving dividends and liquidation payments compared to other classes of stock.
When noncash assets are received as consideration for the issuance of stock shares, they are valued based on the fair value of the assets.
Retained earnings or net income are never increased as a result of treasury stock transactions.
During a downturn, stock buybacks can artificially inflate earnings per share and obscure a slowdown in earnings growth, so investors should be cautious of such practices.
Any restrictions on retained earnings should be presented on the balance sheet.
As of the record date, cash dividends become a legally binding obligation.