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:

Muscle Cells

Muscle cells, also known as muscle fibers, are the cells that make up muscle tissue, enabling movement through contraction and relaxation.

Ultimate Source

The final or primary source from which something originates or can be traced.

Living Organisms

Entities that display the characteristics of life, including the ability to grow, reproduce, carry out metabolic processes, and respond to their environment.

The Sun

The star at the center of the Solar System, a nearly perfect sphere of hot plasma, providing light and heat to Earth.