Sid Alvarez, another accounting student in our class, makes the statement Retained earnings is like a bank

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Sid Alvarez, another accounting student in our class, makes the statement "Retained earnings is like a bank account that you can withdraw from."

1. Agree with Sid's Statement or not?

2. Why agreed or disagreed with the statement?

Related Book For answer-question

Financial Accounting and Reporting a Global Perspective

ISBN: 978-1408076866

4th edition

Authors: Michel Lebas, Herve Stolowy, Yuan Ding

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Posted Date: Aug 28, 2023 06:34 AM

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Sid Alvarez, another accounting student in our class, makes the statement Retained earnings is like a bank

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Expert Answer:

I understand Sids analogy but I would slightly disagree wi... View the full answer

Financial Accounting and Reporting a Global Perspective

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