The statement of changes in shareholders' equity ________.
A)describes the financial situation of a company at a specific point in time
B)is a summary of all of the revenues minus all of the expenses for an accounting period
C)shows the changes that took place in the amount of shareholders' equity during a period
D)is a list of all the cash collected and cash paid during a period

Question

Quizplus · Accepted Answer

The statement of changes in shareholders' equity shows the changes that took place in the amount of shareholders' equity during a period. It typically includes net income or loss, dividends paid, and any transactions that affected equity such as issuing or repurchasing shares. It does not describe the financial situation of the company at a specific point in time, summarize revenues and expenses, or list cash collected and paid.

The Statement of Changes in Shareholders' Equity ________