Able CorpStarted Business This Year

question 49

Multiple Choice

Able Corp.started business this year.For this year,it had revenues of $200,000,expenses of $150,000 and cash flows from operating activities of $40,000,and paid dividends of $5,000.What is the amount of Retained Earnings at the end of the company's first year of operations?

• A) $35,000
• B) $40,000
• C) $45,000
• D) $95,000

---

Definitions:

New Concept

An idea or thought that is original and not previously perceived.

Equilibration

A cognitive process proposed by Piaget, describing the balance between assimilation and accommodation to maintain or restore cognitive stability.

Mentally Charting

The cognitive process of mapping out or organizing thoughts, plans, or data in a structured manner.

Fast-Mapping

The process by which children are able to learn the meaning of a new word quickly and efficiently, often after a single exposure.