What Is the Balance in Retained Earnings After Posting Closing

question 102

Multiple Choice

What is the balance in Retained Earnings after posting closing entries at December 31?

• A) $117.
• B) $106.
• C) $61.
• D) $45.

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Definitions:

Behavioral Economics

A field of economics that examines how psychological, cognitive, emotional, cultural, and social factors affect economic decisions.

Utility

A measure of satisfaction or happiness that a consumer derives from consuming goods or services.

Disutility

The negative utility or dissatisfaction experienced by consumers from consuming a good or engaging in an activity.

Marginal Disutility

The added dissatisfaction a consumer experiences from consuming an additional unit of a product or service.