Author Question: It is Dives, Inc.'s first year of business. Dives' net income for its first year is 200,000. Dives ... (Read 108 times)

BrownTown3 · **on:** Jul 5, 2018

It is Dives, Inc.'s first year of business. Dives' net income for its first year is 200,000. Dives declared and paid dividends of 50,000. The balance in retained earnings at the end of the first year equals:

A) 200,000.
B) 50,000.
C) 150,000.
D) 250,000.

Question 2

Strong antifraud controls include:
a. segregation of duties
b. job rotations
c. mandatory vacations
d. all of the above