Retained Earnings at the End of the Period Is Equal

question 161

Multiple Choice

Retained earnings at the end of the period is equal to

• A) retained earnings at the beginning of the period plus net income minus liabilities.
• B) retained earnings at the beginning of the period plus net income minus dividends.
• C) net income.
• D) assets plus liabilities.

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Definitions:

OASDI

The Old-Age, Survivors, and Disability Insurance program, which is the official name for Social Security in the United States, providing benefits for eligible retirees, disabled individuals, and their families.

Hospital Insurance

Coverage that pays for hospitalization expenses either partially or in full, typically part of health insurance.

Time and a Half

A pay rate that is 1.5 times the employee's regular hourly rate, typically awarded for overtime work.

Double Time

A rate of pay that is twice the employee's normal hourly rate, often applied to overtime work beyond a certain number of hours.