Which of the following statements is incorrect?
A) Equity typically does not move much in any given year.
B) Retained earnings is a complex calculation.
C) Provisions are difficult to audit via controls testing alone.
D) Intercompany balances are vouched to the related entity or to intercompany confirmations.

Question

Quizplus · Accepted Answer

Retained earnings is not a complex calculation as it is simply the cumulative earnings that a company has retained over time.

Which of the Following Statements Is Incorrect