Question: Which is incorrect concerning retained earnings? Select one: a. A deficit is a debit balance in retained earnings b. When the deficit exceeds the total

Which is incorrect concerning retained earnings? Select one: a. A deficit is a debit balance in retained earnings b. When the deficit exceeds the total of the capital account balances, the excess is a capital deficiency. c. Appropriated retained earnings shall be clearly distinguished from unappropriated retained earnings d. A deficit in retained earnings is presented as an asset

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