Which of the following is not true concerning comparative financial statements?
A) The comparative multi-step income statement includes subtotals which separate core and peripheral results.
B) he comparative multi-step income statement includes the subtotal of income before income tax expense.
C) The statement of stockholders' equity is another name for the statement of retained earnings.
D) Comparative financial statements report numbers for two or more periods.

Question

Quizplus · Accepted Answer

The statement of stockholders' equity is not the same as the statement of retained earnings; the former includes changes in all equity accounts, while the latter focuses solely on retained earnings.

Which of the Following Is Not True Concerning Comparative Financial