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An audit plan for the examination of the retained earnings account should include a step that requires verification of the (choose two steps)a. Market value used to charge retained earnings to account for a 2-for-1 stock split.b. Approval of the adjustment to the beginning balance as a result of a write-down of account receivables.c. Authorization for both cash and stock dividends declared and paid.d. Gain or loss resulting from disposition of treasury shares.

An audit plan for the examination of the retained earnings account should include a step that requires verification of the (choose two steps)a. Market value used to charge retained earnings to account for a 2-for-1 stock split.b. Approval of the adjustment to the beginning balance as a result of a write-down of account receivables.c. Authorization for both cash and stock dividends declared and paid.d. Gain or loss resulting from disposition of treasury shares.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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An audit plan for the examination of the retained earnings account should include a step that requires verification of the (choose two steps)
a. Market value used to charge retained earnings to account for a 2-for-1 stock split.
b. Approval of the adjustment to the beginning balance as a result of a write-down of account receivables.
c. Authorization for both cash and stock dividends declared and paid.
d. Gain or loss resulting from disposition of treasury shares.

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