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strojnjashka [21]
3 years ago
14

On its 2008 balance sheet, Sherman Books showed a balance of retained earnings equal to $510 million. On its 2009 balance sheet,

the balance of retained earnings was also equal to $510 million. Which of the following statements is most correct?
a. The company must have had net income equal to zero in 2009.
b. The company did not pay a dividend in 2009.
c. If the company's net income in 2009 was $200 million, dividends paid must have also equaled $200 million.
d. If the company lost money in 2009, they must have paid a dividend.
e. None of the statements above is correct.
Business
1 answer:
Marta_Voda [28]3 years ago
5 0

Answer:

a. The company must have had net income equal to zero in 2009.

Explanation:

If on its 2008 balance sheet, Sherman Books showed a balance of retained earnings equal to $510 million, and on its 2009 balance sheet, the balance of retained earnings was also equal to $510 million; then what is true is that  the company must have had net income equal to zero in 2009.

Retained earnings is the profit amount or net income left over and taken back into the business after it has paid out dividends to its shareholders.

However it is unlikely that the company will pay out the entire amount it earns in a particular year but a percentage of earnings.

In the case of Sherman, it is unlikely that the company made a profit of $200 million and paid out every bit as dividends to shareholders but what is most likely is that there was no profit made for retention in 2009

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Jacob, CEO of a corporation, believes that his company must use its power responsibly in society or risk losing it. Jacob is utilizing an Ethical rationale for valuing social responsibility. Thus the correct answer is C.

<h3>What is Ethical responsibility?</h3>

The capacity to understand, evaluate, and behave in conformity with a variety of moral teachings and norms within a certain industry or situation is known as ethical responsibility.

The ethical responsibility aims to deal with those concerns and challenges relating to business people's devotion to their companies and to their clients. In this case, Jacob the CEO is also doing the same.

Therefore, option C is appropriate.

Learn more about responsibility, here:

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"Your question is incomplete, probably the complete question/missing part is:"

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A. Pragmatic

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1 year ago
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Airida [17]

Answer:

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Explanation:

Terrah's house suffered no actual damage because of a recent forest fire in the area where she lives. Terrah cannot take a casualty loss for the decline in value of her residence caused by the fire as the decline in value of her residence dose not meet the "sudden, unexpected, and unusual, progressive deterioration" requirement for a casualty loss.

Final answer:

<u>No</u> because the decline in value of her residence <u>does not</u> meet the "sudden, unexpected, and unusual, progressive deterioration" requirement for a casualty loss.

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