Which of the following regarding retained earnings is false? a. Retained earnings is increased by net income.
Question:
Which of the following regarding retained earnings is false?
a. Retained earnings is increased by net income.
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 yet distributed to stockholders in the form of dividends.
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Statement of Retained Earnings Retained earnings are cumulative profits of a c...View the full answer
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Related Book For 
Fundamentals Of Financial Accounting
ISBN: 9780073527109
3rd Edition
Authors: Fred Phillips, Robert Libby, Patricia A Libby
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