Barr Attorneys Reported the Following Information for the Year Ended

question 109

Multiple Choice

Barr Attorneys reported the following information for the year ended December 31, 2013. What was the retained earnings balance at December 31, 2012?

• A)$ 250,000
• B)$2,500,000
• C)$1,500,000
• D)$ 350,000

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Definitions:

Holding Constant

Holding constant is a method used in analysis where certain variables are kept unchanged in order to isolate the effects of other variables.

Independent Variables

Variables in a statistical model that are presumed to influence or cause changes in another variable, without being affected by it.

Increase

Increase refers to the action of becoming larger or greater in size, number, value, or amount.

Standard Error

A statistical measure that describes the accuracy with which a sample distribution represents a population, specifically the standard deviation of the sampling distribution of a statistic.