A restriction/appropriation of retained earnings
A) decreases total assets
B) increases total retained earnings
C) decreases total retained earnings
D) has no effect on total retained earnings
D
You might also like to view...
Which of the following statements is true of voice mail technology?
A. It makes it possible for people to participate on the Web. B. It allows flexibility in staying in touch without the aid of a computer. C. It has rapidly changing content that requires authorization to post. D. It provides a platform for people with shared interests to communicate.
_____ measures the income earned per dollar invested by the stockholders of a firm.
A. The current ratio B. Return-on-equity C. Earnings per share D. The debt ratio
Proof of substantial impairment of the value of a contract to the buyer is required to justify revocation of acceptance
Indicate whether the statement is true or false
The Income Summary account is used to:
A. Determine the appropriate withdrawal amount. B. Replace the capital account in some businesses. C. Replace the income statement under certain circumstances. D. Adjust and update asset and liability accounts. E. Close the revenue and expense accounts.