Which of the following statements is true?
A)When operating income is positive,revenue is greater than expenses.
B)When net income is negative,retained earnings decrease,all other things being equal.
C)When net income is positive,Shareholders' equity increases,all other things being equal.
D)All of the answers are acceptable.

Question

Quizplus · Accepted Answer

All statements are true. A) Operating income being positive indicates revenues exceed operating expenses. B) Negative net income reduces retained earnings. C) Positive net income increases shareholders' equity.

Which of the Following Statements Is True