During the Accounting Period There Were No Share Issues,liabilities Increased

question 15

Multiple Choice

During the accounting period there were no share issues,liabilities increased by $45 000,assets increased by $90 000,expenses of $55 000 were incurred and net profit was $115 000.Therefore,dividends declared must have been:

• A) $15 000
• B) $60 000
• C) $70 000.

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Definitions:

Primacy Effect

A cognitive phenomenon where items or information presented first are remembered better than those presented later.

Short-term Memory Capacity

The amount of information that can be held in the short-term memory for a brief period, typically regarded as lasting 20 to 30 seconds.

Chunking

A cognitive strategy for organizing information into meaningful groups or chunks to enhance memory and recall.

Parallel Search

A search for information in which several stores or slots of information are simultaneously examined to match to the target.