Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 22 - No. 39)
Which of the following is a purpose of the 'Statement of Retained Earnings'?
To show the cash position of the company.
To reconcile the beginning and ending balance of retained earnings.
To list all assets and liabilities.
To present the company's operating expenses.
Explanation
The statement of retained earnings explains changes to retained earnings during a specific period.
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