Multiple Choice
The equation that describes the relationship between the balance sheet and the income statement through the Retained Earnings account is as follows:
A) Retained Earnings (beginning) - Net Income = Retained Earnings (ending)
B) Retained Earnings (beginning) + Net Income + Dividends = Retained Earnings (ending)
C) Retained Earnings (beginning) - Net Income - Dividends = Retained Earnings (ending)
D) Retained Earnings (beginning) - Net Income + Dividends = Retained Earnings (ending)
E) Retained Earnings (beginning) + Net Income - Dividends = Retained Earnings (ending)
Correct Answer:
Verified
Correct Answer:
Verified
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