Which One of the Following Correctly Represents One of the Basic

question 180

Multiple Choice

Which one of the following correctly represents one of the basic financial statement models?

• A)Assets - Liabilities = Net Income
• B)Assets + Liabilities = Total Assets
• C)Revenues + Expenses = Net Income
• D)Beginning Retained Earnings + Net Income - Dividends = Ending Retained Earnings

---

Definitions:

Learner Made Mistake

A situation where a person who is in the process of learning something does something incorrectly.

Informational Influence

A social psychology concept where an individual conforms to the opinions or behaviors of a group, believing the group has accurate information.

Social Pressure

The influence exerted by a social group or society on an individual to change their behavior, values, or beliefs to conform to group norms.

Dresses

Garments for the body that typically consist of a skirt with an attached bodice or a matching bodice giving the effect of a one-piece garment.