If Total Liabilities Are $85 000, Total Assets Are $240

question 47

Multiple Choice

If total liabilities are $85 000, total assets are $240 000 and total paid-up capital is $120 000, the amount of retained earnings is:

• A) $120 000.
• B) $35 000.
• C) $155 000.
• D) $205 000.

Identify the visual representation of interaction and main effects on graphs.

Understand the principles of main effects in ANOVA.

Recognize the application and purpose of factorial ANOVA.

Differentiate between one-way and factorial ANOVA.

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Definitions:

Operating Expenses

Expenses incurred during the normal functioning of a business, excluding the cost of goods sold; these can include salaries, rent, utilities, and marketing expenses.

Closing Entries

journal entries made at the end of an accounting period to transfer temporary account balances to permanent accounts, thereby preparing the accounts for the next period.

Capital Account

A financial statement that shows the changes in a company's equity throughout an accounting period, including contributions from and distributions to owners.

Withdrawals Account

An account used to track money taken out of a business by its owner(s) for personal use.