Available-for-sale equity securities: Are recorded at cost when acquired. May earn dividends that are reported in that year's income statement May be classified as either short-term or long-term securities. Are reported at market value on the balance sheet. All of the choices describe available-for-sale equity securities. A stock dividend: Is not a liability on the balance sheet. Does not reduce a corporation's assets and stockholders' equity. Transfers a portion of equity from retained earnings to contributed capital. Does not affect total equity, but does affect the components of equity. All of the options are correct. Changes in accounting estimates are: Considered accounting errors. Reported as prior period adjustments. Accounted for with a cumulative "catch-up" adjustment. Extraordinary items. Accounted for in current and future periods