In the First Three Years of Operations,Lindsey Corporation Earned Net

question 24

Multiple Choice

In the first three years of operations,Lindsey Corporation earned net income/loss of -$150,000,$100,000,and $250,000.At the end of the third year,Lindsey Corporation has a balance of $120,000 for its Retained Earnings account.What is the total amount of dividends Lindsey Corporation paid over the three years?

• A)$130,000.
• B)$120,000.
• C)$80,000.
• D)$380,000.

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Definitions:

Checkable Deposits

Bank account balances that can be easily withdrawn or used for payments without restrictions.

Credit Unions

Financial institution cooperatives made up of depositors with a common affiliation.

Open Market

A freely competitive market where buyers and sellers can trade goods, services, and securities without excessive regulations, often facilitating price determination through supply and demand.

Money Supply

The total volume of money available in the economy, including cash, coins, and balances held in bank accounts.