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Fundamentals of Financial Accounting 4th Edition by Fred Phillips,Robert Libby,Patricia Libby
Edition 4ISBN: 978-0078025372Fundamentals of Financial Accounting 4th Edition by Fred Phillips,Robert Libby,Patricia Libby
Edition 4ISBN: 978-0078025372 Exercise 52
Which of the following regarding retained earnings is false
A) Retained earnings is increased by net income and decreased by a net loss.
B) Retained earnings is a component of stockholders' equity on the balance sheet.
C) Retained earnings is an asset on the balance sheet.
D) Retained earnings represents earnings not distributed to stockholders in the form of dividends.
A) Retained earnings is increased by net income and decreased by a net loss.
B) Retained earnings is a component of stockholders' equity on the balance sheet.
C) Retained earnings is an asset on the balance sheet.
D) Retained earnings represents earnings not distributed to stockholders in the form of dividends.
Explanation
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Retained earnings is a component of stoc...
Fundamentals of Financial Accounting 4th Edition by Fred Phillips,Robert Libby,Patricia Libby
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