After Closing,what Is the Balance of the Retained Earnings Account

question 70

Multiple Choice

After closing,what is the balance of the Retained Earnings account on December 31,Year 1?

• A)$5,900
• B)$7,200
• C)$3,900
• D)$4,900

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Definitions:

Reliability

The degree to which an experiment, test, or measuring procedure yields the same results on repeated trials, indicating consistency and dependability.

Market Definition

The process of characterizing the boundaries of a market, including potential customers and competing products, to understand its dynamics and size.

Effective

Having the intended or expected outcome; the ability to achieve specific goals or results.

Fixed

Costs or expenses that do not change with the level of goods or services produced within a certain time period.