A reader of a set of financial statements would expect to be able to find in the statement of changes in shareholders' equity
A) increases in total assets.
B) increases in total liabilities.
C) increases to net income.
D) increases from other comprehensive income.

Question

Quizplus · Accepted Answer

The statement of changes in shareholders' equity includes information on increases from other comprehensive income, among other changes affecting shareholders' equity. It does not directly report on total assets, total liabilities, or net income, as these are covered in the balance sheet and income statement, respectively.

A Reader of a Set of Financial Statements Would Expect