Which of the following is not a general category of shareholders' equity?
A) Net income
B) Contributed capital
C) Noncontrolling interest
D) Earned capital

Question

Quizplus · Accepted Answer

Net income is not a category of shareholders' equity; it is a component of retained earnings within the earned capital category. Shareholders' equity generally consists of contributed capital, retained earnings (which net income contributes to), and other components such as noncontrolling interest, but net income itself is not a category of equity.

Which of the Following Is Not a General Category of Shareholders