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Question - During 2029, X Limited earned revenue of $1,000 and a net profit of $200. Retained profits at 31 December 2029 were $540 and dividends declared and paid totalled $160. At the same date, liabilities were $260 and assets $1,800. There were no transfers to reserves during 2029 and there were no share buybacks during the period. What was the balance of X Limited's retained profits at 1 January 2029?
Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest. How much control does the Fed have over this longer real rate?
Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.
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