Lori Corporation Reported the Following Information for the Year Ended

question 83

Multiple Choice

Lori Corporation reported the following information for the year ended December 31, 2016: $\begin{array}{lr}\text { Net income } & \$ 10,000 \\\text { Dividends } & 6,000 \\\text { Retained earnings at December } 31,2016 & 25,000\end{array}$ ? What was the balance of Lewis' retained earnings at January 1, 2016?

• A) $21,000
• B) $29,000
• C) $31,000
• D) $35,000

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Definitions:

Organizational Goals

The objectives or targets that an organization aims to achieve, which guide its operations and strategy.

Informal Networks

Informal networks refer to the social connections and channels of communication within an organization that are not officially designated or structured but play a crucial role in information flow and collaboration.

Downward Communication

A form of organizational communication that flows from higher levels of the hierarchy (such as managers) to lower levels (like employees), often used to provide instructions, feedback, or information about decisions.

Build Relationships

The process of developing and nurturing connections, interactions, or bonds between individuals or entities.