Which retained earnings represent sum of all prior earnings

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Reference no: EM132772928

Problem 1: Retained earnings represent the sum of all prior earnings of the firm in excess of dividends.

Option 1: this is always a true statement

Option 2: Cannot say if it is true or false given the limited information provided

Option 3: although false for most of the times, there are several exceptions detailed in Canadian GAAP

Option 4: this is always a false statement

Option 5: although true for most of the times, there are several exceptions detailed in Canadian GAAP

Reference no: EM132772928

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