After net income has been determined,it is then transferred to:
A)the balance sheet.
B)the income statement.
C)the statement of cash flows.
D)the statement of retained earnings.

Question

Quizplus · Accepted Answer

Once net income is determined, it is transferred to the statement of retained earnings, which shows how much of the company's profits are being kept for reinvestment or distributed to shareholders as dividends.

After Net Income Has Been Determined,it Is Then Transferred To