Business, 03.02.2020 17:45, spaigenicole
7. which of the following is the correct way to determine the net profit, and what is the net
profit?
a. subtract the total expenses from revenue; the net profit is $2,358.50.
b. add the total expenses to the revenue; the net profit is $2,358.50.
c. subtract the total expenses from revenue; the net profit is $1,079.72.
d. add the total expenses to the revenue; the net profit is $1,0740.90.
8. what is the net profit you reported on the income statement in exam figure 3?
a. $2,917.97 c. $1,709.72
b. $1,838.25 d. $1,079.72
9. the assets section of the balance sheet should include
a. cash c. cash
equipment—store equipment—office
equipment—office equipment—store
prepaid insurance p. woodsley, capital
insurance expense net profit
b. cash d. cash
equipment—store prepaid insurance
equipment—office equipment—store
supplies expense equipment—office
p. woodsley, capital supplies
10. the owner’s equity section of the balance sheet should appear as
a. owner’s equity c. owner’s equity
p. woodsley, capital woodsley, capital
plus net profit less drawing
less p. woodsley, drawing plus net profit
total owner’s equity total owner’s equity
b. owner’s equity d. owner’s equity
p. woodsley, capital less drawing
less drawing plus net profit
net profit total owner’s equity
11. which of the following best describes a closing entry?
a. it’s an entry made in the balance sheet to close out the assets.
b. it’s an entry made in the trial balance to show a final entry.
c. it’s an entry made in the general journal to close a temporary ledger account.
d. it’s an entry made in the general ledger to close a permanent ledger account
Answers: 2
Business, 22.06.2019 11:50, vdirectioner7634
The basic difference between macroeconomics and microeconomics is that: a. microeconomics looks at the forest (aggregate markets) while macroeconomics looks at the trees (individual markets). b. macroeconomics is concerned with groups of individuals while microeconomics is concerned with single countries. c. microeconomics is concerned with the trees (individual markets) while macroeconomics is concerned with the forest (aggregate markets). d. macroeconomics is concerned with generalization while microeconomics is concerned with specialization.
Answers: 3
Business, 22.06.2019 12:20, laskew37221
Over the past decade, brands that were once available only to the wealthy have created more affordable product extensions, giving a far broader range of consumers a taste of the good life. jaguar, for instance, launched its x-type sedan, which starts at $30,000 and is meant for the "almost rich" consumer who aspires to live in luxury. by marketing to people who desire a luxurious lifestyle, jaguar is using:
Answers: 3
Business, 22.06.2019 19:00, shey89
Question 55 ted, a supervisor for jack's pool supplies, was accused of stealing pool supplies and selling them to friends and relatives at reduced prices. given ted's earlier track record, he was not fired immediately. the authorities decided to give him an administrative leave, without pay, until the investigation was complete. in view of the given information, it would be most appropriate to say that ted was: demoted. discharged. suspended. dismissed.
Answers: 2
7. which of the following is the correct way to determine the net profit, and what is the net
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