Which of the Following Is Correct

question 75

Multiple Choice

Which of the following is correct?

• A) Retained Earnings normally has a debit balance.
• B) Retained Earnings normally has a credit balance.
• C) Retained Earnings is closed at the end of the fiscal year.
• D) Retained Earnings is a nominal account.

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Definitions:

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Write-off

The accounting action of recording an asset as having little or no future service potential, resulting in it being deducted from one's financial statements.

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The anticipated frequency or number of occurrences of an event in statistical hypothesis testing.

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