Examlex
Which statement is false?
Net Income
The profit of a company after all expenses and taxes have been deducted from total revenue.
Retained Earnings
The portion of a company's profits that is held or retained and saved for future use, investment, or to pay debt, instead of being paid out as dividends.
Statement Of Retained Earnings
A financial report that reveals the changes in retained earnings for a particular period of time.
December 31
Refers to the last day of the year, often associated with the end of the fiscal year for many companies.
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