A companys net income appears directly on the income statement and the retained earnings statement, and it is included indirectly in the companys balance sheet. Do you agree? Explain.

Chapter 1, Questions #10
A company’s net income appears directly on the income statement and the retained earnings statement, and it is included indirectly in the company’s balance sheet.” Do you agree? Explain.

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Financial Accounting Tools for business decision making

6th Edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

ISBN: 978-0470534779