A credit balance in retained earnings represents
A) the amount of cash retained in the business.
B) a claim on specific assets of the corporation.
C) a claim on the aggregate assets of the corporation.
D) the amount of stockholders' equity exempted from the stockholders' claim on total assets.
Correct Answer:
Verified
Q91: Retained earnings are occasionally restricted
A) to set
Q92: A net loss
A) occurs if operating expenses
Q93: A prior period adjustment that corrects income
Q94: On January 1 Sly Corporation had 120000
Q95: Which one of the following events would
Q97: Kramer Co. had retained earnings of $30000
Q98: Sebold Manufacturing declared a 10% stock dividend
Q99: Bento Inc. had 500000 shares of common
Q100: On January 1 Layline Corporation had 160000
Q101: Income statements for corporations are the same
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