Which of the following statements is true? Answer If revenues are less than expe

Question

Which of the following statements is true? Answer If revenues are less than expenses, the company has a net loss and retained earnings decreases. If revenues are greater than expenses, the company has net income and contributed capital increases. If revenues are less than expenses, the company has a net loss and contributed capital increases to balance off the loss. If revenues are greater than expenses, the company has net income and retained earnings decreases. Which of the following statements is true? Which of the following statements is true? If revenues are less than expenses, the company has a net loss and retained earnings decreases. If revenues are greater than expenses, the company has net income and contributed capital increases. If revenues are less than expenses, the company has a net loss and contributed capital increases to balance off the loss. If revenues are greater than expenses, the company has net income and retained earnings decreases. If revenues are less than expenses, the company has a net loss and retained earnings decreases. If revenues are greater than expenses, the company has net income and contributed capital increases. If revenues are less than expenses, the company has a net loss and contributed capital increases to balance off the loss. If revenues are greater than expenses, the company has net income and retained earnings decreases.

Explanation / Answer

If revenues are greater than expenses, the company has net income and contributed capital increases.

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