Answer:
1.
Option B is the correct answer.
2.
Dividends Paid = $55 million. Thus, option C is the correct answer.
Explanation:
1.
The statement about shareholders' equity given in option A that it is the difference between the paid-in capital and retained earnings is incorrect as the retained earnings are a part of the equity of shareholders and are included in the calculation of shareholders' equity. Thus, option B is the correct answer.
2.
The Net Income earned by a company is usually treated in two ways. It is either paid out as dividends to the shareholders or is retained in the business and transferred to the retained earnings account or both. Thus, we can calculate the amount of dividends paid by the following equation.
Closing balance of retained earnings = Opening balance of retained earnings + Net Income for the period - Dividends Paid
700 = 595 + 160 - Dividends Paid
700 + Dividends Paid = 755
Dividends Paid = 755 - 700
Dividends Paid = $55 million
Answer:
5
Explanation:
i need points for my test to get anwers
Answer:
F. C and D only
Explanation:
Financial Literacy
This is when an individual or person possesses the skills, techniques and knowledge that allows him/her (the individual or person) to make informed and efficient decisions with all of their financial resources. It is the ability to understand how money works. This includes, how individuals make money, manage it and invest it properly. Financial skills possessed by a financial literate includes budgeting, personal financial management, investment, expenditure and so on.
Understanding assumptions and estimates of plant managers and creating a firm financial statement are NOT part of the indicators for financial literacy.
