Scents 4 Cents Ltd

question 3

Multiple Choice

Scents 4 Cents Ltd. made the following changes to its retained earnings account during the year: Created $40,000 of new appropriations
Reversed $50,000 of previous year's appropriations
Declared $30,000 of dividends to its shareholders
Paid $70,000 of dividends to its shareholders
Earned $30,000 after income taxes
By what amount did the firm's total retained earnings change for the year?

• A) decreased $50,000
• B) increased $30,000
• C) decreased $40,000
• D) No changes

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Definitions:

Robert Brym

A sociologist known for his work on social movements, sociology of the internet, and social structure.

Holocaust

The mass genocide of six million Jews and millions of others by the Nazi regime during World War II.

Nazis

Members of the National Socialist German Workers' Party, a fascist political group led by Adolf Hitler, responsible for numerous atrocities during World War II.

Stanley Milgram

Stanley Milgram was a psychologist best known for his pioneering research on obedience to authority, illustrating how people are willing to follow orders that contradict their personal beliefs and ethics.