If There Is a Net Loss It Is Shown as a Deduction

question 127

True/False

If there is a net loss it is shown as a deduction on the retained earnings statement.

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Definitions:

Financial Statements

Formal records of the financial activities and position of a business, person, or other entity, typically including balance sheet, income statement, and cash flow statement.

Social Audits

A process by which an organization accounts for its social performance to its stakeholders, focusing on the impact of its activities on the community, environment, and society.