Why Retained Earning Account is necessary for the set of
book creation while implementing oracle new business.
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Answer Posted / srinibas
HI,RETAINED EARNING IS AN ACCOUNT WHICH BELONGS TO FUND
BALANCE QUALIFIER.AT THE TIME OF YEAR END CLOSING WE NEED TO
TRANSFER THE DIFFERENCE BETWEEN REVENUE AND EXPENDITURE TO
RETAINED EARNING ACCOUNT
IF I AM WRONG CORRECT ME
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