State the Property or Properties That Justify the Following Statement

question 298

Multiple Choice

State the property or properties that justify the following statement.

• A)Associative property of multiplication.
• B)Commutative property of addition.
• C)Associative property of addition.
• D)Distributive property of multiplication.
• E)Additive identity.

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Definitions:

Balance Sheet

A financial statement that provides a snapshot of a company's financial position at a particular time, showing assets, liabilities, and shareholders' equity.

Retained Earnings Statement

A report detailing changes in retained earnings, including net income and dividends, over a specific period.

Fiscal Year

A one-year period that companies and governments use for financial reporting and budgeting, not necessarily coinciding with the calendar year.

Treasury Stock

Treasury stock consists of shares that were issued and subsequently reacquired by the company, not retired but held in the company's treasury.