If a Corporation Reports a Net Income, It Should Be

question 9

True/False

If a corporation reports a net income, it should be closed to retained earnings.If it reports a loss, it should be closed to the contributed surplus account.

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Definitions:

Value Map

A visual tool used to compare the value propositions of different products or services in the market, analyzing factors such as price, quality, and performance.

Specific Customer Needs

Particular requirements or desires of consumers that businesses aim to meet with their products or services.

Competitive Advantage

The attributes that allow an organization to outperform its competitors, such as cost structure, product offerings, brand, and service.

Competitive Scope

The breadth and scale of competition a company faces, ranging from local to global markets and across various segments.