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7. Which of the following statements is incorrect concerning appropriations of retained earnings? a. Appropriations of retained earnings do not change the total amount of

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7. Which of the following statements is incorrect concerning appropriations of retained earnings? a. Appropriations of retained earnings do not change the total amount of shareholder equity b. Appropriations of retained earnings reect funds set aside for a designated purpose, such a plant expansion c. Appropriations of retained earnings can be made as result of contractual requirements d. Appropriations of retained earnings can be made at the discretion of the board of directors

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