The Total Revenues of $6,500,total Expenses of $3,500 and Dividends

question 69

Multiple Choice

The total revenues of $6,500,total expenses of $3,500 and dividends of $500 were recorded in the closing entries.The net change in Retained Earnings for the month was:

• A)$6,000.
• B)$3,000.
• C)$2,500.
• D)$3,500.

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Definitions:

PLC System

A Programmable Logic Controller system, which is a digital computer used for automation of industrial processes, such as control of machinery or factory assembly lines.

User Program

A sequence of instructions created by an end-user or developer, intended to be executed by a computer or another digital machine to perform specific tasks or solve problems.

Internal Operating Instructions

Detailed procedures or guidelines within a system or application, defining how specific operations should be executed.

Scan Process

The scan process in a PLC refers to the cyclical operation in which the system reads inputs, executes logic based on the program, and updates outputs, typically occurring in a rapid and continuous loop.