Reserved powers are retained by state governments when not explicitly given to Congress. This is the tenet of the Tenth Amendment of the U.S. Constitution.
Retained
In general, the US and Great Britain share language and the basis of their governments.
The feature of equal representation for all states was retained in the structure of the Senate. In the Confederation Congress, each state had one vote, regardless of its size or population. Similarly, in the Senate, each state is represented by two senators, ensuring that smaller states have an equal say in the legislative process.
A constitutional republic is such a system. The US Constitution specifies clearly that all powers not specifically given to Federal government are retained by the states.
The Tenth Amendment sought to make clear that the individual State governments retained all powers that governments usually have, except for thos specifically given to the federal government. It was intended to limit the powers of the federal government only to the ones given it by the Constitution.
Yes
retained earnings an asset?
Yes, since this account (Retained Earnings) is a credit account and an uppropriate retained earnings account is simply a non-restricted account which is Retained Earnings !!! Even the restricted/ appropriate retained earnings are credited.
none
Retained profits are profits of that particular financial year (After taken into account of dividends payouts, transfer to reserves and etc) without adding profits from the previous year. When Retained profit of the current year is transferred to the balance sheet after adding previous year profits, it is called retained earnings.(Retained profit + Retained earnings b/d = Retained earnings c/d).
Stetement of retained earnings summarizes the changes occured in retained earnings from opening balance to closing balance.
The past tense of "retain" is "retained."