11. Which of the following accounts does not belong in the Equity section of the Status of situation?

a. common stock

b. retained earnings

c. Investment in common stock

d. They all belong.

12. The Accumulated other comprehensive income account:

a. It does not belong to the State of situation.

b. You can only have credit balance

c. It is the total (bottom line) of the Comprehensive Income Statement

d. You can have credit or debit balance.

13. In which transaction(s) does the company carry out with its own common stock may recognize gains or losses on its statement of income and bills?

a. Resale of portfolio shares

b. withdrawal of shares

c. Conversion of preferred shares into common

d. None of the above

14.In which transaction(s) does the company carry out with its own common stock can be credited to the Retained Earnings account?

a. Resale of portfolio shares

b. withdrawal of shares

c. Conversion of preferred shares into common

d. None of the above

15. In 2021 a company recognized an unrealized gain and reported it correctly as Other comprehensive income. At the end of 2021 the company closed the profit against Accumulated other comprehensive income. In 2022 the gain was realized. At the end of 2022 and closing the books, what happened to the aforementioned profit?

a. Transferred from Accumulated other comprehensive income to Retained earnings.

b. It was reclassified from "Accumulated other comprehensive income" to the Income Statement and expenses when made. At the end of the year it was closed against Retained Earnings.

c. It did not affect the Statement of Income and Expenses for 2022, but it was disclosed in a note.

d. The gain remained in Accumulated other comprehensive income.