11. When an enterprise purchases its own shares and aceotnts for the trunsaction as treasury stock at cost, the effect on the company's statement is; a. Portiolio shares are recognized as an asset and cash is reduced by the same amotint. so total assets remain unchanged, Nor does it change the Heritage. b. The purchase of the shares in the portfolio is accounted for as an expense, reducing assets and equity. c. The shares in the portfolio are presented as a reduction of Equity. Cash was reduced by the same amount d. Cash is reduced and retained earnings are reduced by the same amome. 12. The "Gain on resale of shares in portfolio" account: a. It is presented in the Statement of Ineome and Expenditure b. It is prevented as "Other comprehensive income" c. It is noted directly in "Accumulated other comprehensive income" d. Doesunot exist 13. What type of itcm in the financial statemente repecsents the paywent of at cath dividend? a. Distrbution to grvects. b. Expenditure c. Loss. d loycstmeris by ownets