Question

Which of the following statements is not correct?

a. If income is greater than expense, retained earnings increase
b. Owners equity remain unchanged with the change in retained earnings
c. Expenses decrease owner's equity, whereas income increases owner's equity
d. Profits are the results of income less all expenses

Answer 1

Answer:

b. Owners equity remain unchanged with change in retained equity

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Answer 2

Hey dude your answer is

c. Expenses decrease owner's equity, whereas income increases owner's equity

Hope it's help

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