Revenues Were $150,000,expenses Were $144,000,and Cash Dividends Declared and Paid

question 126

Multiple Choice

Revenues were $150,000,expenses were $144,000,and cash dividends declared and paid were $3,000.What were the net income and the change in retained earnings for the period?

• A)Net income was $6,000;the change in retained earnings was $6,000.
• B)Net income was $150,000;the change in retained earnings was $9,000.
• C)Net income was $6,000;the change in retained earnings was $3,000.
• D)Net income was $150,000;the change in retained earnings was $147,000.

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Definitions:

Revised Concept

A modified or updated version of an original idea, theory, or belief to incorporate new information or insight.

Homeostasis

The regulatory process by which biological systems maintain stability and equilibrium while adjusting to conditions that are optimal for survival.

Biological Conditions

States or processes of living organisms that are influenced by genetic, physiological, and biochemical factors.

Controls

In scientific experiments, these are conditions or groups that do not receive the experimental treatment and are used as a benchmark to measure the effects of such treatments.