Retained Earnings at the Beginning and Ending of the Accounting

question 55

Multiple Choice

Retained earnings at the beginning and ending of the accounting period were $1,000 and $2,100, respectively. Revenues of $3,900 and dividends paid to stockholders of $900 were reported during the period. What was the amount of expenses reported for the period?

• A)$3,000.
• B)$1,100.
• C)$2,800.
• D)$1,900.

---

Definitions:

Production Function

A mathematical representation showing the relationship between input factors, such as labor and capital, and the output of goods or services they produce.

Total Costs

The sum of all expenses incurred in the production of goods or services, including both fixed and variable costs.

Widgets

A generic term often used to refer to an unspecified or hypothetical manufactured product.

Labor

Human input, involving both muscle and mind work, in the output of goods and services.