For the Year, Movers United Has Net Income of $31,800

question 70

Multiple Choice

For the year, Movers United has net income of $31,800, net new equity of $7,500, and an addition to retained earnings of $24,200.What is the amount of the dividends paid?

• A)$100
• B)$7,500
• C)$7,600
• D)$15,100
• E)$16,700

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Definitions:

Individual Mandate

A requirement, typically within healthcare policy, that individuals must purchase or otherwise obtain a certain good or service, such as health insurance.

Commerce Clause

A provision in the U.S. Constitution that grants Congress the power to regulate trade among the states and with foreign nations.

Economic Activity

Actions that involve the production, distribution, and consumption of goods and services in an economy.

Working Poor

Individuals who are employed but whose earnings are not sufficient to meet the poverty line in their location.