Use the Following Performance Report for a Profit Center of Portia

question 56

Multiple Choice

Use the following performance report for a profit center of Portia Corporation for the month ended December 31 to answer the questions below.
Using the information provided for Portia Corporation,what was the actual profit center income?

• A)$10
• B)$6
• C)$4
• D)$54

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Definitions:

Revenue Accounts

Accounts that track the income a company generates from its normal business activities, such as sales of goods or services.

Retained Earnings

The portion of a company's profits that is kept or retained rather than paid out as dividends to shareholders, often used for reinvestment in the business.

Dividends Account

An account that records the amount of dividends declared by a company to be distributed to its shareholders.

Long-term Investments

Long-term investments are assets that a company intends to hold for more than one fiscal year, including stocks, bonds, real estate, and other securities.