At the End of an Accounting Period, the Amount of Net

question 60

Multiple Choice

At the end of an accounting period, the amount of net profit earned by a company is transferred to the balance sheet and reported under which one of the following categories?

• A) Assets
• B) Liabilities
• C) Shareholders' equity
• D) The amount of net profit is not transferred to the balance sheet.

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Definitions:

Organizational Objectives

Specific goals set by a business or organization that guide its operations towards achieving its overarching mission.

Post World War II

The period following the end of the Second World War in 1945, characterized by political, social, and economic reconstruction and the emergence of the Cold War.

Implicit Leadership Theory

Refers to the idea that people have beliefs, convictions, and implicit theories about what makes a good leader, which influence their perceptions of leadership effectiveness.

Personalized Power

Power that individuals seek for their own personal satisfaction, often at the expense of others, contrasting with socialized power, which is used for the benefit of others.