Ask Question
16 May, 10:37

Which of the following statements is true?

(A) Both appropriations and restrictions of retained earnings require journal entries.

(B) Restrictions on retained earnings must be journalized, but appropriations are usually reported in notes to the financial statements.

(C) No journal entries are needed to appropriate or restrict retained earnings.

(D) Appropriations of retained earnings require journal entries, but restrictions on retained earnings are usually reported in notes to the financial statements.

+1
Answers (1)
  1. 16 May, 11:14
    0
    The correct answer is

    (D) Appropriations of retained earnings require journal entries, but restrictions on retained earnings are usually reported in notes to the financial statements.

    good luck
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Which of the following statements is true? (A) Both appropriations and restrictions of retained earnings require journal entries. (B) ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers