Sweet Tree Cookies Has Current Net Income of $268,000 of Which

question 75

Multiple Choice

Sweet Tree Cookies has current net income of $268,000 of which $110,000 was paid out in dividends. The remaining $158,000 will be shown in which account on the firm's financial statements for next year?

• A)long-term debt
• B)common stock
• C)net income
• D)retained earnings
• E)paid in surplus

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Definitions:

Deontology

Deontology is a branch of ethics that focuses on the morality of actions based on whether they adhere to established rules or duties, rather than on the consequences of the actions.

Virtue Ethics

An approach to ethics that emphasizes an individual's character as the key element of ethical thinking, rather than rules or consequences.

Utilitarianism

A theory in ethics and philosophy that evaluates actions based on their outcomes, aiming for the greatest happiness for the greatest number.

Philanthropic Activity

Actions taken by individuals or organizations to promote the welfare of others, typically in the form of charitable donations or other forms of aid.