Retained earnings arise from gains and losses whereas reserves are simply internal transfers. True or false? Explain

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Retained earnings arise from gains and losses whereas reserves are simply internal transfers. True or false? Explain your answer.

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Financial Reporting

ISBN: 9780730396413

4th Edition

Authors: Janice Loftus, Ken Leo, Sorin Daniliuc, Belinda Luke, Hong Nee Ang, Mike Bradbury, Dean Hanlon, Noel Boys, Karyn Byrnes

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Question Posted: Apr 07, 2024 12:02 AM

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Retained earnings arise from gains and losses whereas reserves are simply internal transfers. True or false? Explain

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False Reserves can arise through gains a...View the full answer

Financial Reporting

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