Use the Information Given Below to Answer the Following Questions

question 31

Multiple Choice

Use the information given below to answer the following questions:
During 2012, Avion Ltd incurred expenses of $250 and earned a net profit of $50. Retained profits at 1 January 2012 stood at $70 and dividends declared and paid totalled $30. At 31 December 2012, liabilities were $200 and share capital $110. There were no transfers to reserves during 2012.
-What was the balance of Avion Ltd's retained profits at 31 December 2012?

• A) $90
• B) $150
• C) $30
• D) $50.

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Definitions:

Ultrasound

A diagnostic imaging technique that uses high-frequency sound waves to create images of the inside of the body, commonly used for examining fetuses during prenatal care, organs, and tissues.

Centrally Located Mass

A mass located in the center of a body or organ, which can be benign or malignant, necessitating medical evaluation.

Computed Tomography

A diagnostic imaging procedure that uses a combination of X-rays and computer technology to produce detailed cross-sectional images of the body's internal structures.

Electroencephalography

A non-invasive test that involves the use of sensors placed on the scalp to measure the electrical activity of the brain.