The retained earnings account represents:
A) The undistributed profit of a business held as cash.
B) An indicator of how much cash an organisation has accumulated to pay out to owners.
C) Profit earned in the current financial year.
D) The accumulated profit of a business since it began operations minus any dividends or drawings paid out to owners.
E) None of the above.
Correct Answer:
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Q1: On 1st of June a hotel purchased
Q2: In double entry accounting:
A) With respect to
Q3: In a hotel, which of the following
Q5: For the current financial year a hotel
Q6: In the current year the Budget Hotel
Q7: Which of the following normally have a
Q8: When a hotel pays off a bank
Q9: With respect to double entry accounting systems,
Q10: A hotel's junior accountant was recording advertising
Q11: Journal entries:
A) Are presented in account number
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