QuickBooks Online Automatically Transfers Net Income into Retained Earnings at the End

question 15

True/False

QuickBooks Online automatically transfers Net Income into Retained Earnings at the end of the year.

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Definitions:

Auditory Information

Data or knowledge received and processed through the sense of hearing.

Pons

A structure in the hindbrain that acts as a neural relay center, facilitating the crossover of information between the left side of the body and the right side of the brain and vice versa. It is also involved in balance and in the processing of both visual and auditory information.

Pituitary Gland

A small endocrine gland located at the base of the brain that produces hormones regulating growth, metabolism, and reproductive functions.

Releasing Hormones

Hormones secreted by the hypothalamus that stimulate or inhibit the release of hormones from the anterior pituitary.