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Sergio039 [100]
3 years ago
7

When preparing a journal entry for a transaction that affects retained earnings, the "Retained Earnings" account should not be d

ebited or credited. Instead, the account which ultimately affects retained earnings should be debited or credited.True / False.
Business
1 answer:
yarga [219]3 years ago
4 0

Answer:

True

Explanation:

Retained earnings are the net earnings of an entity accumulated over time after payment of dividend. It is that part of earnings that is retain for expansion by the entity.

Generally, retained earnings are not changed by direct posting except it is prior year adjustment. in some entities, the amount that is transferred to retained earnings is system generated. Most transactions that affect retained earnings are debited or credited to account which ultimately affects retained earnings

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However while doing the procedure, they were unaware of the fact that their target audience was not literate enough. Hence we can conclude that the correct answer is D.

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Investment banks focus primarily on the creation and sale of securities to help companies, governments, and large institutions achieve their financing objectives.

<h3>What are Investment Banks?</h3>
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