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What does mean when a firm residual income is zero

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Reference no: EM132965286

Problem 1: If a firm's residual income for a particular year is positive, does that mean the firm was profitable? Explain. If a firm's residual income for a particular year is negative, does that mean the firm necessarily reported a loss on the income statement? Explain. What does it mean when a firm's residual income is zero?

Reference no: EM132965286

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