Retained Profits of Livermore Pty Ltd at 1 July 2015

question 4

Multiple Choice

Retained profits of Livermore Pty Ltd at 1 July 2015 were $5500.The accounting records for year ended 30 June 2016 showed the following information:
- What were Livermore's retained profits at 30 June 2016?

• A) $3750
• B) $7250
• C) $8750
• D) $5500

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Definitions:

Periodic Payment

Payments made or received regularly over a specific period, often monthly or annually.

GIC

In Canada, a Guaranteed Investment Certificate is a type of investment that guarantees a fixed return rate over a certain period.

Compounded Annually

Interest on an investment calculated once a year, where each year's interest adds to the principal.

GIC

Guaranteed Investment Certificate, a Canadian investment that offers a guaranteed rate of return over a fixed period of time, usually with higher interest rates for longer terms.