When preparing the balance sheet,the final balancing element of the balance sheet is:

Name: When preparing the balance sheet,the final balancing element of the balance sheet is:
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Question

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Retained earnings are the final balancing element of the balance sheet, reflecting the company's accumulated net income minus any dividends paid to shareholders. This figure adjusts as the company earns more income or pays out dividends, ensuring the balance sheet remains balanced.

When Preparing the Balance Sheet,the Final Balancing Element of the Balance