In a quasi-reorganization, a debit balance in Retained Earnings (a deficit) is eliminated by

a. reducing paid-in capital or reorganization capital.
b. reducing future depreciation charges

Limitations of the income statement include all of the following except

a. items that cannot be measured reliably are not reported. b. only actual amounts are reported in determining net income. c. income measurement involves judgment. d. income numbers are affected by the accounting methods employed.

A successful repatriation program starts after the first phase of the assignment has been completed

Indicate whether the statement is true or false