-Figure 7-6B Above Shows That

question 100

Multiple Choice

-Figure 7-6B above shows that

• A)annual sales of Tony's Pizza increased over the period 2010 and 2013.
• B)average annual unit sales of Tony's Pizza per household decreased over the period 2010 and 2013.
• C)average dollar sales of Tony's Pizza have dropped from $3.4 million to $3.1 million.
• D)sales of Tony's Pizza to households with children declined over the period 2010 and 2013.
• E)smaller households bought less Tony's Pizza over the period 2010 and 2013.

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Definitions:

Retained Earnings

The portion of a company's profits that is kept or retained rather than distributed to shareholders as dividends, typically used for reinvestment.

Accounts Closed

This term refers to the process of clearing the balance of temporary accounts at the end of the accounting period and transferring the balances to permanent accounts.

Trial Balance

A bookkeeping report that lists the balances of all ledgers accounts in order to verify that total debits equal total credits.

Financial Statements

Formal records of an entity's financial activities and conditions, including the balance sheet, income statement, and cash flow statement.