Table of contents

1. Introduction to Accounting1h 21m
2. Transaction Analysis1h 13m
3. Accrual Accounting Concepts2h 38m
4. Merchandising Operations2h 30m
5. Inventory1h 55m
6. Internal Controls and Reporting Cash1h 16m
7. Receivables and Investments3h 8m
8. Long Lived Assets5h 1m
9. Current Liabilities2h 19m
10. Time Value of Money1h 23m
- Time Value of Money Equations
  35m
- Using Time Value of Money Tables
  47m
11. Long Term Liabilities2h 45m
12. Stockholders' Equity2h 15m
13. Statement of Cash Flows2h 24m
14. Financial Statement Analysis5h 25m
15. GAAP vs IFRS56m

12. Stockholders' Equity

Retained Earnings

Financial Accounting

12. Stockholders' Equity

Retained Earnings

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Multiple Choice

The way you want to spend your time, money, and resources in the future are your _____.

retained earnings

liabilities

dividends

goals

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Verified step by step guidance

Step 1: Begin by understanding the context of the question. It is asking about the term that represents how you plan to allocate your time, money, and resources in the future.

Step 2: Review the definitions of the provided options: Retained earnings refer to the portion of net income retained by a company rather than distributed as dividends. Liabilities are obligations or debts owed by a company. Dividends are payments made to shareholders from a company's profits.

Step 3: Compare these definitions to the concept of planning future allocation of resources. None of the financial accounting terms (retained earnings, liabilities, dividends) directly align with this concept.

Step 4: Recognize that the term 'goals' is more appropriate in this context, as it refers to the objectives or plans for future allocation of resources, time, and money.

Step 5: Conclude that the correct answer is 'goals,' as it best fits the description provided in the question.