When Preparing the Balance Sheet,the Final Balancing Element of the Balance

question 17

Multiple Choice

When preparing the balance sheet,the final balancing element of the balance sheet is:

• A)Cash.
• B)Net income.
• C)Retained Earnings.
• D)Dividends.

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Definitions:

Skeptical Attitude

A mindset characterized by questioning and doubting claims or assertions without sufficient evidence.

Formal Fallacy

A type of mistaken reasoning in which the form of an argument itself is invalid.

Argument

Reasoning that is made up of two or more propositions, one of which is supported by the others.

Formal Fallacy

An error in reasoning that involves the incorrect structure of the argument, making the argument invalid regardless of the content.