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:

NASW Code

The National Association of Social Workers Code of Ethics is a set of guidelines for professional conduct and decision-making in the field of social work.

Oppression

The exercise of authority or power in a burdensome, cruel, or unjust manner over others.

Impairment

A reduction in function or ability, which can be physical, cognitive, or emotional, potentially impacting an individual’s daily activities.

Unethical Conduct

Behavior that goes against moral principles and accepted professional standards.