How Is the Balance Sheet Linked to the Other Financial

question 15

Multiple Choice

How is the Balance Sheet linked to the other financial statements?

• A)The amount of retained earnings is reported on the Balance Sheet as a liability.
• B)Retained earnings is added to total assets and reported on the Balance Sheet.
• C)Retained earnings is reported on the Balance Sheet.
• D)There is no link between the Balance Sheet and other statements, as each contains different accounts and provides different information.

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