Quartz Instruments Had Retained Earnings of $145,000 at December 31,2015

question 86

Multiple Choice

Quartz Instruments had Retained Earnings of $145,000 at December 31,2015.Net income for 2016 was $90,000,and dividends for 2016 were $30,000.What amount of Retained Earnings should be reported at December 31,2016?

• A) $205,000
• B) $235,000
• C) $140,000
• D) $175,000

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Definitions:

Cognitive Congruence

The alignment between an individual's thoughts, values, beliefs, and behaviors, leading to a state of harmony or consistency in their cognitive processes.

Nonreciprocity

A situation where there is an unequal exchange or one party does not respond in kind to the actions of another.

Identity Diffusion

A stage in the development of self-identity in which an individual has not yet undergone a crisis or made any commitments.

Similarity

A cognitive principle stating that objects are grouped together according to their similarity.