Use the Work Sheet for Finley Company to Answer the Questions

question 189

Multiple Choice

Use the work sheet for Finley Company to answer the questions that follow. The entry to close Dividends would be

• A) debit Retained Earnings, $3,000; credit Dividends, $3,000
• B) debit Retained Earnings, $12,000; credit Dividends, $12,000
• C) debit Dividends, $3,000; credit Retained Earnings, $3,000
• D) debit Dividends, $12,000; credit Retained Earnings, $12,000

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Definitions:

Uncontrolled Growth

Often refers to abnormal cell growth, such as in cancer, where cells divide and multiply in an unregulated manner.

Cancer Cells

Abnormal cells that divide uncontrollably, have the ability to infiltrate and destroy normal body tissue, and can spread to other parts of the body.

Mutations

Changes in the DNA sequence of an organism's genome, which can lead to variations in physical traits or an increase in susceptibility to certain diseases.

Socioeconomic Status

An individual's or family's economic and social position in relation to others, based on income, education, and occupation.