A statement of retained earnings shows:
A) The changes in the Cash account occurring during the accounting period.
B) The revenue,expense,and dividends of the period.
C) The types of assets that have been purchased with the earnings retained during the accounting period.
D) The changes in the Retained Earnings account occurring during the accounting period.
Correct Answer:
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Q41: Net income from the Income Statement appears
Q42: The adequacy of a company's disclosure is
Q43: The closing entry for an expense account
Q44: The Income Summary account has debits of
Q45: The dividends account should be:
A)Closed to income
Q47: Dividends declared:
A)Reduce retained earnings.
B)Increase retained earnings.
C)Reduce net
Q48: All of the following statements are true
Q49: The concept of adequate disclosure:
A)Demands a "good
Q50: In the notes to financial statements,adequate disclosure
Q51: A debit balance in the income summary
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