Q369
Claim against assets are represented by
A.
saved earning
B.
retained earnings
AnswerC.
maintained earnings
D.
saving account earning
Answer: Option B
Solution
Answer: Option B
Solution:
Claim against assets are represented by retained earnings. Retained earnings are the profits that a company has earned to date, less any dividends or other distributions paid to investors. This amount is adjusted whenever there is an entry to the accounting records that impacts a revenue or expense account.