The Amount Shown on the December 31, 2012 Balance Sheet

question 56

True/False

The amount shown on the December 31, 2012 balance sheet as "retained earnings" is equal to the firm's net income for 2012 minus any dividends it paid.

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Definitions:

Unconditioned Response

A spontaneous and automatic response triggered by a stimulus, occurring without the necessity of learning or conditioning beforehand.

White Uniform

Clothing traditionally worn by medical and healthcare professionals to denote cleanliness and professionalism.

Rapid Acquisition

The quick initial stage of learning or gaining information.

CR

Conditioned Response; a learned response to a previously neutral stimulus that has become associated with an unconditioned stimulus.