Examlex
Extinction requires which of the following?
Appropriations
Funds set aside by a legislative body for a specific purpose, often referring to government budgeting.
Retained Earnings
The portion of net earnings not distributed to shareholders, instead reinvested in the core business or used to pay off debt.
Prior Period Adjustment
Corrections of errors in previously issued financial statements not attributable to the current period, affecting retained earnings directly.
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