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vekshin1
3 years ago
12

For the year ended December 31, a company has revenues of $332,000 and expenses of $203,500. The company paid $56,000 in dividen

ds during the year. The balance in the Retained earnings account before closing is $96,000. Which of the following entries would be used to close the dividends account?
A. Debit Income Summary $56,000 credit Retained earnings $56,000.
B. Debit Retained earnings $56.000; credit Dividends $56,000.
C. Debit Retained earnings 596,000: credit.
Business
1 answer:
Orlov [11]3 years ago
3 0
Oh my chocolate milkshake so many IT can color Pepsi turn around there’s a grand kick your out of a
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business ethics chapter 4 critics have argued that, from an ethical perspective, altruistic corporate social responsibility (CSR
Gala2k [10]

Answer:

True

Explanation:

Altruistic Corporate Social Responsibility is a philanthropic approach of the company which undermines the interests of the shareholders because such programs are not approved by the shareholders. This clash between the interests of shareholders and the society is the argue that critics quote to protect the shareholders rights.

7 0
3 years ago
_________ occurs when a good or service is produced at the lowest possible cost.
kolbaska11 [484]

Answer:

The correct option is C,productive efficiency

Explanation:

Allocative efficiency occurs when goods are produced to reflect the preferences of the consumers.This means that the producers are not concerned about deploying their resources in the most efficient manner as the overriding point is the satisfaction of customers' expectations.Hence option B is wrong.

Voluntary exchange refers to process of suppliers and customers engaging  in business transactions with freewill.

However,productive points to effective and efficient allocation of resources to yield maximum output and at the lowest possible cost per unit.No doubt option C is the correct answer.

3 0
3 years ago
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vinnie had a lot of credit cards, and he did have fun with them! then he nearly went broke. what was the main thing vinnie did w
frutty [35]
Didn’t pay the credit back to the bank as with a credit card the bank gives you money and you pay it back after so many months
8 0
4 years ago
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Clyde operates a sole proprietorship using the cash method. This year Clyde made the following expenditures: $480 to U.S. Bank f
Zielflug [23.3K]

Answer:

$760

Explanation:

Clyde

Interest is been deducted proportionately and the interest of 4 months of this year will be deductible – ($480/12) × 4 months

= $160

12-month rule also applies to insurance and t the full amount of insurance is as well deductible.

Hence:

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Therefore the maximum amount Clyde can deduct this year is $760

5 0
3 years ago
(c)
Allisa [31]

Answer:

The reasons are 1. Increase the wages, 2. More variety or substitute's along with increase more jobs skilled and unskilled

Explanation:

1. Increase the wages- As it will lead to better living standard

2. More variety or substitute's along with increase more jobs skilled and unskilled

8 0
4 years ago
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