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Select the Letter of the Answer That Correctly Identifies Each

question 22

Multiple Choice

Select the letter of the answer that correctly identifies each of the types of prewriting illustrated below. The prewriting below is an example of
Feb) 3. Yesterday at work a man brought a wallet to the counter. He'd found it on the ground and wanted to return it to its owner. It was filled with $20 bills ⎯ I don't know how many, but it was a lot of money. I found a driver's license and called the person who had dropped the wallet. When he came in to pick it up, he said everything was there. Credit cards, money ⎯ nothing was missing. It made me think about honesty and wonder how many people who found such a wallet would turn it in, as the man who found it did, and how many people would take the money.
Feb) 4. I just read a Time magazine article about Bono, the leader singer of the Irish rock band U2. I really admire him because he's not only talented but also works hard on charitable causes. He is especially interested in helping the people of Africa. Most rock stars are selfish and self-centered, but he's making it cool to care.

Definitions:

Retained Earnings

The cumulative amount of net income earned by a company that is retained and not distributed to shareholders as dividends.

Closing Entries

Journal entries made at the end of an accounting period to transfer the balances of temporary accounts to permanent accounts.

Net Income

The remaining earnings of a corporation after deducting all operating costs and tax obligations from its revenue.

Dividends Declared

The action by a company's board of directors to distribute a specified amount of the company’s earnings to its shareholders.