Atlantic Corporation Reported the Following Amounts at the End of the First

question 98

Multiple Choice

Atlantic Corporation reported the following amounts at the end of the first year of operations: common stock $200,000; sales revenue $800,000; total assets $600,000; dividends declared $40,000; and total liabilities $320,000. What are Atlantics' retained earnings at the end of the year and what amount of expenses were incurred during the year?

• A) Retained earnings are $80,000 and expenses incurred totaled $680,000.
• B) Retained earnings are $80,000 and expenses incurred totaled $720,000.
• C)Retained earnings are $280,000 and expenses incurred totaled $480,000.
• D)Retained earnings are $280,000 and expenses incurred totaled $520,000.

Understand the importance of financing options and interest rates in making investment decisions.

Understand the structure and functions of the three branches of the federal government.

Identify and differentiate between types of powers (e.g., concurrent, exclusive) within the federal system.

Recognize the unique characteristics of state legislatures, including unicameral and bicameral structures.

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Definitions:

Inverse Time-Delay

Refers to a characteristic of protective devices where the time to trip decreases as the magnitude of the current increases.

Overload Current

The flow of electricity exceeding the normal operating current, potentially causing overheating or damage to electrical components.

Overload Units

Devices or mechanisms designed to protect electrical circuits and motors from operating above their rated capacity, preventing damage.

Thermal Overload Units

Devices designed to protect motors and circuits from overheating due to excessive current or overload conditions.