A Company's Total Assets Increased During the Period While Its

question 4

Multiple Choice

A company's total assets increased during the period while its liabilities and common stock were unchanged.No dividends were declared or paid during the period.Which of the following would explain this situation?

• A)Revenues were greater than expenses during the period.
• B)Retained earnings were less than net income during the period.
• C)No dividends were paid during the period.
• D)The company must have purchased assets with cash during the period.

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Definitions:

Olive Branch Petition

A final attempt by the colonists to avoid a war of independence against Britain, symbolizing peace and reconciliation.

King George III

The King of Great Britain and Ireland during the latter half of the 18th century, known for his reign during the American Revolutionary War and the subsequent loss of the American colonies.

No Hope

Generally signifies a situation or mindset where there is a belief that no positive outcomes are possible.

Declaration of Independence

A foundational document adopted on July 4, 1776, by the Continental Congress, declaring the thirteen American colonies to be independent from British rule.