If a Business Has Made a Profit of £30000 Is

question 5

Multiple Choice

If a business has made a profit of £30000 is liable for tax of £12000, has paid an interim dividend of £6000 and declares a final dividend which has not been paid of £4000 what is its retained profit for the period?

• A) £30000
• B) £18000
• C) £12000
• D) £8000

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Definitions:

Precedents

Legal cases or decisions that have been established in the past and provide an example or rule to guide the determination of similar cases in the future.

Class Actions

Legal proceedings where a group of people with similar grievances against the same defendant are represented collectively.

Arbitration

A method of dispute resolution outside the courts, where an arbitrator makes decisions that are binding for the parties involved.

Individual Litigation

Legal action taken by a single plaintiff or defendant in a court proceeding, rather than by or against a group or class.