When expenses exceed revenues in a given period, a. Retained earnings are not impacted. b. Retained earnings

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When expenses exceed revenues in a given period,

a. Retained earnings are not impacted.

b. Retained earnings are decreased.

c. Retained earnings are increased.

d. One cannot determine the impact on retained earnings without additional information.

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Financial Accounting

ISBN: 9780078111020

7th Edition

Authors: Robert Libby, Patricia A Libby

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