The Net Income of Harriet,Inc

question 108

Multiple Choice

The net income of Harriet,Inc.for the year is $35,000.The dividends declared during the year were $43,000.Which of the following statements is true?

• A)Retained Earnings account decreases by $35,000.
• B)Retained Earnings account decreases by $8,000.
• C)Retained Earnings account increases by $43,000.
• D)Retained Earnings will remain the same.

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Definitions:

Nominal Group

A group technique involving structured small-group discussion to generate and prioritize ideas or solutions.

Prioritization Matrix

A tool used to rank items or tasks based on their relative importance and urgency, aiding in decision-making and time management.

Affinitizing

The process of grouping data, ideas, or objects based on their perceived similarities or natural relationships, often used in brainstorming and problem-solving sessions.

Creative Problem Solving

An approach to finding innovative solutions to complex problems through creativity, lateral thinking, and brainstorming.