Which of the following actions or events does not result in an addition to retained earnings? a. a quasi-reorganization b. net income for the period c. correction of an error in which ending inventory was understated in a previous year d. issuance of a 3-for-1 stock split
Which of the following actions or events does not result in an addition to retained earnings? a. a quasi-reorganization b. net income for the period c. correction of an error in which ending inventory was understated in a previous year d. issuance of a 3-for-1 stock split
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 2MC: A prior period adjustment should be reflected, net of applicable income taxes, in the financial...
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Which of the following actions or events does not result in an addition to retained earnings?
a. a quasi-reorganization
b. net income for the period
c. correction of an error in which ending inventory was understated in a previous year
d. issuance of a 3-for-1 stock split
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