The Changes in Account Balances for Allen Inc

question 171

Multiple Choice

The changes in account balances for Allen Inc. for 2018 are as follows: Assuming the only changes in retained earnings in 2018 were for net income and a $25,000 dividend, what was net income for 2018?

• A) $30,000.
• B) $20,000.
• C) $15,000.
• D) $5,000.

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Definitions:

Base-Of-The Pyramid Markets

Economic strategies focused on providing goods and services to the widest and poorest population segments.

Benefit Corporations

A type of for-profit corporate entity, recognized in certain regions, that includes positive impact on society, workers, the community, and the environment in addition to profit as its legally defined goals.

Capabilities

The quality or state of being capable; it refers to an organization's or individual's potential or ability to achieve tasks or goals.

Poverty

A general scarcity or lack of material possessions or money for consumption; a persistent lack of income that deprives an individual of the ability to obtain appropriate levels of food, water, clothing, shelter, health care, and/or education.