The Good Word Store Reported the Following Figures: Retained Earnings,January

question 120

Multiple Choice

The Good Word Store reported the following figures: Retained Earnings,January 31,2014.........................$20,000,000
Retained Earnings,January 31,2015.........................$15,000,000
Total Stockholders' Equity,January 31,2014...........$29,000,000
Total Stockholders' Equity,January 31,2015...........$25,000,000
The company's fiscal year ends on January 31 each year.Dividends declared for the fiscal year ending January 31,2015 are $1 million.What is the net income or net loss for the fiscal year ending January 31,2015?

• A)$1 million net loss
• B)$4 million net loss
• C)$5 million net loss
• D)$6 million net loss

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Definitions:

Critical Path

The longest sequence of tasks in a project that must be completed on time for the whole project to be finished by its deadline, determining the shortest possible project duration.

Crashing

The process of reducing project duration by adding extra resources to project activities, often resulting in increased cost.

PERT

Program Evaluation and Review Technique; a project management tool used to schedule, organize, and coordinate tasks within a project.

CPM

Critical Path Method, a project management technique used to estimate the duration of a project and determine the activities that are critical to project completion.