Benedict Company Compiled the Following Financial Information as of December

question 42

Multiple Choice

Benedict Company compiled the following financial information as of December 31, 2014: $$\begin{array} { l r } \text { Service revenue } & \$ 560,000 \\\text { Common stock } & 120,000 \\\text { Equipment } & 160,000 \\\text { Operating expenses } & 500,000 \\\text { Cash } & 140,000 \\\text { Dividends } & 40,000 \\\text { Supplies } & 20,000 \\\text { Accounts payable } & 80,000 \\\text { Accounts receivable } & 60,000 \\\text { Retained earnings, } 1 / 1 / 14300,000\end{array}$$ Benedict's retained earnings on December 31, 2014 are

• A) $300,000.
• B) $360,000.
• C) $320,000.
• D) $ 20,000.

---

Definitions:

Linguistic Fluency

The ability to speak, write, or comprehend a language easily and accurately.

Public School

A public school is a government-funded educational institution that provides free education to students within a specific community or geographic area, accessible to all children without charge.

Linguistic Change

The evolution of language over time, encompassing phonetics, semantics, and syntax, often influenced by social, cultural, and environmental factors.

Colonialism

The practice or policy of controlling full or partial political control over another country, occupying it with settlers, and exploiting it economically.