Retained Earnings at the End of the Period Is Equal

question 192

Multiple Choice

Retained earnings at the end of the period is equal to

• A)retained earnings at the beginning of the period plus net income minus liabilities.
• B)retained earnings at the beginning of the period plus net income minus dividends.
• C)net income.
• D)assets plus liabilities.

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Definitions:

Elastic Demand

A state in which the quantity demanded of a product is highly responsive to changes in its price.

Accountant Wages

The compensation, including salary and benefits, paid to accountants for their professional services.

Demand Shift

A change in the quantity demanded at every price point, caused by factors other than the price of the good or service.