Benedict Company Compiled the Following Financial Information as of December

question 34

Multiple Choice

Benedict Company compiled the following financial information as of December 31 2022: $$\begin{array} { l r } \text { Service revenue } & \$ 1,120,000 \\\text { Common stock } & 240,000 \\\text { Equipment } & 320,000 \\\text { Operating expenses } & 1,000,000 \\\text { Cash } & 280,000 \\\text { Dividends } & 80,000 \\\text { Supplies } & 40,000 \\\text { Accounts payable } & 160,000 \\\text { Accounts receivable } & 400,000 \\\text { Retained earnings, } 1 / 1 / 22 & 600,000\end{array}$$ Benedict's assets on December 31 2022 are

• A)$2160000.
• B)$1640000.
• C)$1000000.
• D)$1040000.

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Definitions:

Frame Alignment

A process in social movement theory that involves the alignment of individual and social movement organizations' interpretive frames, making participation in the movement more appealing to potential adherents.

Congruent

In agreement or harmony; often used in mathematics to refer to figures that are identical in shape and size.

Taft-Hartley Act

A 1947 federal law in the United States that restricts the activities and power of labor unions.

National Industrial Recovery Act

A 1933 U.S. legislation aimed at economic recovery during the Great Depression, which sought to stimulate industrial production and improve labor conditions.