If the Beginning and Ending Balances in Retained Earnings Are

question 40

Multiple Choice

If the beginning and ending balances in retained earnings are $15,000 and $10,000, respectively, and dividends during the year are $8,000, then net income for the year is:

• A)$10,000.
• B)$3,000.
• C)$18,000.
• D)$32,000.

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Definitions:

Confidence

The feeling or belief in one's abilities or qualities, often reflected in their behavior and attitude.

Vision

The capacity to envision or strategize for the future using creativity or insight.

Method

A systematic approach or procedure for achieving a task or conducting an investigation.

Training

The process of teaching or learning a skill or behaviors, often to improve performance in a specific field or activity.