During January 2017, Its First Month of Operation, Osborn Enterprises

question 23

Multiple Choice

During January 2017, its first month of operation, Osborn Enterprises earned net income of $6,800 and paid dividends to the owners of $2,000. At January 31, the balance in Retained Earnings will be

• A)$0.
• B)$6,800 credit.
• C)$4,800 credit.
• D)$2,000 debit.

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Definitions:

Groupthink

A psychological phenomenon in which the desire for harmony in a decision-making group overrides a realistic appraisal of alternatives.

Minority Influence

The process by which a smaller portion of a group changes the opinions or behaviors of the larger group, often through consistency, persistence, and coherence in their stance.

Brainstorming

A creative group activity designed to generate a large number of ideas for the solution to a problem.

Gender Dysphoria

A psychological condition where a person experiences discomfort or distress because there is a mismatch between their biological sex and gender identity.