Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 29 - No. 34)
What is the purpose of the statement of retained earnings?
To report a company's cash flows from operating, investing, and financing activities.
To report a company's financial position at a specific point in time.
To report a company's net income or loss over a period of time.
To show the changes in retained earnings over a period.
Explanation
The statement of retained earnings shows changes in the retained earnings over a period.
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