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:

Words of Negotiability

Specific phrases or wording required on financial instruments that allow them to be transferred or assigned freely.

Bearer Instrument

A negotiable financial instrument that designates payment to whoever holds or bears the instrument at the time of payment, with no need to prove ownership.

Bearer Instrument

A type of negotiable instrument (such as a bond or check) that is payable to whomever has possession of the instrument, making them the owner.

Order Instrument

A financial document that is payable to a specific person or entity and can be transferred by endorsement or delivery.