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For what reasons would a corporation restrict its retained earnings? How does it report a restriction? I. To meet legal requirements II. To correct a

For what reasons would a corporation restrict its retained earnings? How does it report a restriction?

I. To meet legal requirements
II. To correct a material error made in a previous year
III. To meet contractual restrictions

a. I and II only

b. I and III only

c. II and III only

d. I, II, and III

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