Where Are Enclosure Notations, If Applicable, Keyed in a Letter

question 30

Multiple Choice

Where are enclosure notations, if applicable, keyed in a letter?

• A)Three lines above the reference initials  
• B)One line above the reference initials  
• C)One or two lines below the reference initials  
• D)Three lines below the reference initials

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Definitions:

Statement of Retained Earnings

A financial statement that shows the changes in a company's retained earnings over a specific period.

Net Income

The remaining profit of a company post deduction of all expenses, taxes, and costs from its total revenues.

Unearned Revenues

Income received by a company for goods or services to be provided in the future, which is recorded as a liability until earned.

Liabilities

Financial obligations or debts owed by a business or individual to creditors.