Benedict Company Compiled the Following Financial Information as of December

question 130

Multiple Choice

Benedict Company compiled the following financial information as of December 31, 2017: $$\begin{array} { l r } \text { Service revenue } & \$ 1,120,000 \\\text { Common stock } & 240,000 \\\text { Equipment } & 320,000 \\\text { Operating expenses } & 1,000.000 \\\text { Cash } & 280,000 \\\text { Dividends } & 80,000 \\\text { Supplies } & 40,000 \\\text { Accounts payable } & 160,000 \\\text { Accounts receivable } & 120,000 \\\text { Retained earnings, } 1 / 1 / 17 & 600,000\end{array}$$ Benedict's assets on December 31, 2017 are

• A)$1,880,000.
• B)$1,360,000.
• C)$640,000.
• D)$760,000.

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Definitions:

Stimulus-Response

A concept in psychology and physiology describing how organisms respond to stimuli in their environment.

Operant Conditioning

Learning that results from rewarding or reinforcing a particular behavior.

Genetics

The branch of biology that studies genes, genetic variation, and heredity in organisms, explaining how traits are passed from parents to offspring.

Environment

The surroundings or conditions in which an organism lives or operates.