Net Income of a Corporation Should Be Closed to Retained

question 156

True/False

Net income of a corporation should be closed to retained earnings and net losses should be closed to the share premium account.

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Definitions:

Dividing

The mathematical operation of partitioning a numerical value into specified groups or sections, resulting in a quotient.

Function

In programming, a reusable piece of code designed to perform a specific task, taking some inputs and returning an output.

Report

A structured presentation of data retrieved from a database or other data sources, often formatted for easy analysis or decision-making.

Label

An element in user interfaces used to display text to the user, often describing another interface control.