Which of the following statements about retained earnings restrictions is incorrect? Oa Many states require a...
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Which of the following statements about retained earnings restrictions is incorrect? Oa Many states require a corporation to restrict retained earnings for the cost of treasury stock purchased. Ob. Long-term debt contracts may impose a restriction on retained earnings as a condition for the loan. Oc Retained earnings restrictions are generally disclosed through a journal entry on the books of a company Od The board of directors of a corporation may voluntarily create retained earnings restrictions for specific purposes Which of the following statements about retained earnings restrictions is incorrect? Oa Many states require a corporation to restrict retained earnings for the cost of treasury stock purchased. Ob. Long-term debt contracts may impose a restriction on retained earnings as a condition for the loan. Oc Retained earnings restrictions are generally disclosed through a journal entry on the books of a company Od The board of directors of a corporation may voluntarily create retained earnings restrictions for specific purposes
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The answer is c The retained earning restrictions a... View the full answer
Related Book For
Investments
ISBN: 978-0071338875
8th Canadian Edition
Authors: Zvi Bodie, Alex Kane, Alan Marcus, Stylianos Perrakis, Peter
Posted Date:
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