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6. Retained earnings refers to A) the amount reported as "the bottom line" on the income statement. B) the accumulated amount of past earnings of a corporation that has not been distributed to shareholders as dividends C) the total amount of stockholders' equity for a corporation. D) the amount that shareholders have invested by purchasing a corporation's stock. E) None of the above is correct. examination of the financial statements of a business to ensure that they conform with generally accepted accounting principles is called A) a certification. B) an audit. C) a verification. D) a validation. 8. Which of the following is not a liability? A) Accounts payable. B) Retained earnings. C) Notes payable. D) Income taxes payable. E) None of the above is correct. 9. The purchase of supplies for cash would A) Not change total assets B) Increase total assets. C) Increase liabilities. D) Decrease liabilities. E) None of the above is correct. 10. Payment of a liability would A) Decrease stockholders' equity B) Decrease assets. C) Not affect assets. D) Increase stockholders' equity. E) None of the above is correct