Revenues Have the Effect of Increasing Retained Earnings

question 53

True/False

Revenues have the effect of increasing retained earnings.

---

Definitions:

Emancipation

The act of freeing someone from slavery or oppression; often refers to the abolition of slavery in the United States.

Emancipation Proclamation

A historic executive order issued by President Abraham Lincoln in 1863, declaring the freedom of all enslaved people in Confederate states during the American Civil War.

Foreign Support

Assistance or backing provided by entities or governments from countries other than one's own.

Border States

The slave states that did not declare secession from the Union during the U.S. Civil War, including Delaware, Maryland, Kentucky, and Missouri, which were of strategic importance.