Question

True or False:Assuming a company has been in business several years, the retained earnings balance which should appear on its adjusted trial balance will be the ending retained earnings balance as opposed to the beginning retained earnings balance.

Answer 1

TRUE.

Step-by-step explanation:

For every accounting year end their is always declaration of profit before tax and profit after tax ,

The profit before tax is a financial metric that measures the amount of income a company generate before paying income taxes .it is calculated by substracting all expenses from all revenues except for income tax expenses .

while profit after tax is financial metric that measure the amount of income a company generate after paying income taxes .it is calculated subtract all expense from all revenues ,including income tax expense