In Working with Schedule M-2 (Analysis of Unappropriated Retained Earnings

question 28

Multiple Choice

In working with Schedule M-2 (analysis of unappropriated retained earnings per books) of Form 1120, which of the following is an addition to beginning retained earnings?

• A) Cash dividends.
• B) Net loss per books.
• C) Property dividends.
• D) Net income per books.
• E) None of these.

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Definitions:

Workers' Compensation

A form of insurance providing wage replacement and medical benefits to employees injured during employment in exchange for the employee's right to sue their employer.

Contributory Negligent

The legal principle where a party can be found to have contributed to their own harm and, therefore, may have their compensation reduced or denied in a negligence claim.

Landrum-Griffin Act

U.S. legislation aimed at regulating labor unions' internal affairs and their officials, to ensure democracy, fiscal responsibility, and fair dealing within unions.

Union Officer

An individual elected or appointed to a position of authority within a labor union, responsible for representing and managing the interests of its members.