Dimension Inc

question 149

Multiple Choice

Dimension Inc.had net income for 2016 of $24,000.It declared and paid a $13,000 cash dividend in 2016.If the company's retained earnings for the end of the year were $39,600, what was the company's retained earnings balance at the beginning of 2016?

• A) $28,600
• B) $50,600
• C) $76,600
• D) $2,600

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Definitions:

Fair 6-Sided Dice

Refers to an equally balanced die where each of the six faces, numbered from 1 to 6, has an equal probability of landing face up when thrown.

Record

A document or entity that preserves information or data for future reference.

Law of Averages

A layman's term often misused to suggest that a future event is likely to occur to balance out a statistical deviation, though not a formal statistical principle.

Independent Events

Two or more events whose outcomes do not affect each other's probabilities of occurring.