Mica Inc Began Operations in October, 2011 $€ 200,000$

question 174

Multiple Choice

Mica inc. began operations in October, 2011.During October, Mica sold ordinary shares for $€ 200,000$ , earned revenue of $€ 22,000$ , incurred expenses of $€ 12,000$ , and paid dividends of $€ 1,000$ . Retained earnings at the end the month is

• A) \( € 9,000 \)
• B) \( € 10,000 \)
• C) \( € 209,000 \)
• D) \( € 210000 \)

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Definitions:

Corporate Scandals

Refers to major failures within corporations that involve illegal, unethical, or morally questionable practices that come to public attention.

Stock Frauds

Illegal activities involving manipulation of stock markets to deceive investors and profit unlawfully.

Bill Clinton

The 42nd President of the United States (1993-2001), known for his policies on the economy, welfare reform, and his involvement in several scandals.

Aid to Families

A government welfare program designed to provide financial assistance to households, especially those with children, to alleviate poverty.