Marcos Inc had net income for 2016 of $40,000 . It declared and paid a $3,500 cash dividend in 2016 . If the company's retained earnings for the end of the year were $38,200, what was the company's retained earnings balance at the beginning of 2016?
a. $81,700
b. $74,700
c. $5,300
d. $1,700
d
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Which of the following statements is true of the duty of compensation?
A) It does not permit an agent to be paid on a contingency fee basis. B) If the parties in an agency cannot agree on the amount, courts will usually award the compensation claimed by one of the parties. C) It requires a principal to compensate an agent for any losses incurred when the agent is acting on behalf of the principal. D) It requires a principal to compensate an agent for services rendered even in the absence of a written agreement.
Which of the following is NOT true of a product layout?
a. It is also referred to as a straight-line layout. b. It works well for repetitive or continuous flow processes. c. It is used to produce a unique product for different customers. d. It is used for products that have high and constant demand.
The financial responsibility requirement in motor vehicle laws is usually met by purchase of a minimum amount of___________
Fill in the blank(s) with correct word
Limited liability companies (LLCs) are governed by a federal LLC statute.
Answer the following statement true (T) or false (F)