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Definitions:

Retained Earnings

The accumulation of a company's net profits less any dividends paid to shareholders over its lifetime, reflecting the company's reinvestment back into operations.

Plant Derecognition

Occurs when a fixed asset is removed from the financial statements because it has been disposed of, sold, or is no longer in use and does not provide future economic benefits.

Deferred Tax Liability

A tax obligation that arises when taxable income will be higher in future periods due to temporary differences in accounting methods.