Kelly Corporation has experienced profits greater than losses in the past four years since incorporation.Which of the following is true?
A) Retained earnings has a debit balance at the end of the fourth year.
B) Retained earnings has a credit balance at the end of the fourth year.
C) Retained earnings on the balance sheet will cause a reduction in total shareholders' equity.
D) Retained earnings will not appear on the balance sheet.
Correct Answer:
Verified
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