Which of the following is false concerning the statement of stockholders' equity?
A)IFRS require a statement of stockholders' equity.
B)U)S.GAAP do not require a statement of stockholders' equity.
C)Net income and dividends close into Retained Earnings.
D)Other comprehensive income and retirement of repurchased shares close into Accumulated Other Comprehensive Income.

Question

Quizplus · Accepted Answer

Other comprehensive income is closed into Accumulated Other Comprehensive Income, but the retirement of repurchased shares affects the common stock and additional paid-in capital accounts, not Accumulated Other Comprehensive Income.

Which of the Following Is False Concerning the Statement of Stockholders