If a companys board of directors designates a portion of earnings for a particular purpose due to

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If a company’s board of directors designates a portion of earnings for a particular purpose due to legal or contractual obligations, they are designated as ________.
A. Retained earnings payable
B. Appropriated retained earnings
C. Cumulative retained earnings
D. Restricted retained earnings

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Principles Of Accounting Volume 1 Financial Accounting

ISBN: 9781593995942

1st Edition

Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax

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