Solved

If Retained Earnings Decreased During the Year,and No Dividends Were

Question 73

Multiple Choice

If retained earnings decreased during the year,and no dividends were paid,which of the following statements must be true?


A) Expenses for the year exceeded revenues.
B) The company did not have enough cash to pay its expenses.
C) Total equity decreased.
D) Liabilities increased during the year.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q68: Accounts that are closed include expenses,dividends,and unearned

Q69: Consider how each of the transactions listed

Q70: After closing,what is the balance of the

Q71: An increase in an expense may be

Q72: Which of the following is not a

Q74: Which of the following correctly states the

Q75: After the closing process,all income statement accounts

Q76: Recognition of revenue may be accompanied by

Q77: Duluth Co.collected a $6,000 cash advance from

Q78: What is the term used to describe