The Closing Entries Show a Debit to Retained Earnings of $350

question 144

Multiple Choice

The closing entries show a debit to Retained Earnings of $350, and a credit to Retained Earnings of $760. There was also a credit to Dividends Payable of $120. This company had a:

• A)net loss of $410.
• B)net income of $410.
• C)net loss of $530.
• D)net income of $530.

Understand the concept and objectives of organization structures.

Recognize the purpose and applications of social network analysis in organizations.

Acknowledge the advantages and disadvantages of functional structures.

Understand the role and impact of informal structures within an organization.

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Definitions:

George Bush

Refers to either George H.W. Bush, the 41st President of the United States (1989-1993), or his son George W. Bush, the 43rd President of the United States (2001-2009), each having made lasting impacts on American and international politics.

Crowding-in

An economic phenomenon where increased government spending leads to higher private sector investment.

Crowding-out

A situation where increased public sector spending reduces the amount of available funds for private sector investments.

National Debt

The total amount of money that a country's government has borrowed, typically as a result of deficit spending, and yet to repay.