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hoa [83]
3 years ago
6

If the sum of the Ending Balance(s) in the revenue account(s) is greater than the sum of the Ending Balances in the expense acco

unts, then Retained Earnings will increase as a result of the closing entries.a) trueb) false
Business
1 answer:
GenaCL600 [577]3 years ago
7 0

Answer:

The answer is true.

Explanation:

Retained Earnings are profit not distributed to shareholders inform of dividends. Retained earnings are adjusted a record or an entry impacts revenue or expense account.

If the sum of the Ending balance(s) in the revenue account(s) is greater than the sum of the ending balances in the expense accounts, then retained earnings, this means the net inflow is positive and this remaining sum goes into the retained earnings.

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3 0
1 year ago
What are dividends?
sergeinik [125]
C. Distribution of a small percentage of profits to shareholders.
4 0
3 years ago
When managers disregard ethical concerns, the likely result is:?
sergeinik [125]
The most likely result is that there would be a general mistrust because they are disregarding what you need.
5 0
3 years ago
Shankar Company uses a perpetual system to record inventory transactions. The company purchases inventory on account on February
OverLord2011 [107]

Answer:

Debit Inventory $40,600

Credit Cash account $40,600

Being entries to recognize the cost of inventory

Explanation:

The initial recognition of inventory is to be done including all the cost incurred in bring inventory to the place of use or storage. These includes freight and the cost of the item. When inventory is purchased on account, entries required are Debit Inventory, credit account payable. Where cash is paid, the debit is same but the credit entry is posted to the cash account.

Hence total cost incurred (which is the cost of inventory)

= $40,000 + $600

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6 0
3 years ago
The ______technique for group decision making in which discussion is structured and the final solution is decided by silent vote
alukav5142 [94]

Answer:

The correct answer is nominal group technique.

Explanation:

This nominal group technique is a type of brain storming where structured meetings are being held among the members, where they will try to take out the solutions to the problems identified by them, and thus facilitating decision making. The meetings are structured here because the goal is to make sure the meetings are not dominated by few individuals and the silent members also share their thoughts and ideas with the rest of the group.

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3 years ago
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