The statement of retained earnings:
A)Reports how retained earnings changes at a point in time.
B)Reports how retained earnings changes over a period of time.
C)Reports on cash flows for operating, financing, and investing activities over a period of time.
D)Reports on cash flows for operating, financing, and investing activities at a point in time.
E)Reports on amounts for assets, liabilities, and equity at a point in time.

Question

Quizplus · Accepted Answer

The statement of retained earnings reports how retained earnings changes over a period of time. It shows the beginning balance of retained earnings, any net income or losses, dividends paid, and the ending balance of retained earnings for a specific period of time.

The Statement of Retained Earnings