1) Comprehensive income does not affect net income or retained earnings.

True

False

2) On the statement of cash flows, the cash flows from financing activities section would include

receipts from the sale of investments

receipts from a note receivable

receipts from the issuance of capital stock

payments for the acquisition of investments

3) Financial statements include assets listed at

All of these choices are correct.

their historical cost

their fair value

their market value