Multiple Choice
Which of the following statements is true?
A) Retained earnings is an asset.
B) Retained earnings represents the future dividend liability of the company.
C) Retained earnings has a debit balance for a successful corporation.
D) Retained earnings represents the profit that has been earned by the company, less any dividends declared since the first day of operations.
Correct Answer:
Verified
Correct Answer:
Verified
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