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Tomm Tomm
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6 years ago
The closing retained earnings balance as determined by compiling the balance sheet is used to complete the statement of retained earnings.
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Financial Accounting, Canadian Edition

Financial Accounting, Canadian Edition


Edition: 5th
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ACC 925

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wrote...
6 years ago
FALSE
Explanation:  The closing retained earnings balance as determined by completing the statement of retained earnings is reported as part of shareholders' equity on the balance sheet.
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