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:

Positive Reinforcement

The process of increasing the likelihood of a behavior by following it with the addition of a pleasurable stimulus or reward.

Negative Punishment

A behavior modification technique involving the removal of a desirable stimulus after a particular behavior is exhibited, with the intention of decreasing that behavior.

Positive Punishment

An operant conditioning principle where the introduction of an unfavorable outcome or stimulus following a behavior decreases the likelihood of the behavior occurring again.

Behaviors

Actions or reactions of an individual in relation to the environment or situations.