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Which of the following statements is incorrect? a. Current assets are expected to be converted into cash sooner than noncurrent assets. b. Equity investors have
Which of the following statements is incorrect?
a. Current assets are expected to be converted into cash sooner than noncurrent assets.
b. Equity investors have unlimited downside exposure if the company declares bankruptcy
c. Paid-in capital of company is not affected by the payment of dividends.
d. Retained earnings at the inception of a company equals zero.
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