Asked by Jared Gammell on Jun 03, 2024
Verified
The section of the balance sheet is determined by three items: revenues,expenses,and dividends
A) accounts payable
B) assets
C) corporation
D) cost
E) economic entity assumption
F) liabilities
G) market value
H) monetary unit assumption
I) note payable
J) (paid-in) capital
K) partnership
L) proprietorship
M) retained earnings
N) stockholders' equity
Retained Earnings
Profit accumulated over time by a company, after dividend payments to shareholders, which is reinvested in its business.
Balance Sheet
A financial statement that summarizes a company's assets, liabilities, and shareholders' equity at a specific point in time.
- Understand the role of stockholders' equity and its components in a corporation.
Verified Answer
ES
Ekkanat SuvannapongJun 05, 2024
Final Answer :
M
Explanation :
Retained earnings are affected by revenues, expenses, and dividends, which are all elements that determine this section of the balance sheet.
Learning Objectives
- Understand the role of stockholders' equity and its components in a corporation.