Quiz Ch 10 – T/F Retained Earnings Deficit: Debit Balance Explained
Financial Accounting
Thomas, Tietz, and Harrison
12th Edition
Retained Earnings debit balance account signifies a deficit in Retained Earnings.
Retained Earnings debit balance account signifies a deficit in Retained Earnings.
Retained Earnings contain cash allocated for stockholder dividends.
A corporation is a separate legal entity from its owners.
The par value of a stock is of greater concern to stockholders than any other value.
The right to vote in the election of the board of directors is held by the stockholder.
If a corporation pays income taxes, its stockholders are not required to pay taxes on the dividends received.
A corporation uses its name rather than the names of its stockholders.