1. Which of the following does not affect retained earnings? Choices; Actual payment/distribution of dividends. Board of directors’ decision relating to recapitalization. Adjustment of prior period’s profits Profit of a corporation during the period.
1. Which of the following does not affect retained earnings? Choices; Actual payment/distribution of dividends. Board of directors’ decision relating to recapitalization. Adjustment of prior period’s profits Profit of a corporation during the period.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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1. Which of the following does not affect retained earnings ?
Choices;
Actual payment/distribution of dividends.
Board of directors’ decision relating to recapitalization.
Adjustment of prior period’s profits
Profit of a corporation during the period.
2. The following are characteristics of a corporation except
Choices;
It is an artificial being
It has right of succession
Unlimited Liability
It is created by operation of law
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