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Which of the following statements is false? The balance sheet reports the beginning balance of retained earnings. A companys assets come from three primary sources:
Which of the following statements is false?
The balance sheet reports the beginning balance of retained earnings.
A companys assets come from three primary sources: creditors, investors and profits from the business.
When an entitys revenues exceed its expenses for a period of time, the entity reports a net profit for that period.
A balance sheet provides information at a specific point in time, while the other three statements provide information for a specific period of time.
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