Match the Following Items with the Statements Below

question 52

Short Answer

Match the following items with the statements below. Terms may be used more than once.

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Definitions:

Retained Earnings

The portion of net income not distributed as dividends but retained by the company to be reinvested in its core business or to pay debt.

Deficit

The amount by which expenses exceed income or liabilities surpass assets.

Retained Earnings Statement

A financial statement that shows the amounts of a company's profits that are kept within the business rather than paid out as dividends.

Corporation Income Statement

A financial statement that shows a company's revenues, expenses, and profits or losses over a specific time period.