Retained Earnings Is What Type of Account

question 27

Multiple Choice

Retained earnings is what type of account?

• A) Equity
• B) Income
• C) Expenses
• D) Asset

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Definitions:

Waiting Period

A mandated time interval between when an action is taken and when some related action may occur or when its effect comes into play.

Early Termination

The process of ending an agreement or contract prior to its originally agreed upon conclusion date.

Self-Handicapping

A cognitive strategy by which individuals avoid effort in the hopes of keeping potential failure from hurting self-esteem.

Anticipatory Excuses

Refers to justifications provided in advance of an action to preemptively excuse or rationalize possible failure or poor performance.