A Company Completed the Following Transactions During the Month of October

question 49

Multiple Choice

A company completed the following transactions during the month of October: I. Purchased office supplies on account, $4800.
II. Provided services for cash, $22,000.
III. Provided services on account, $12,000.
IV. Collected cash from a customer on account, $7400.
V. Paid the monthly rent of $18,000.
What was the company's net income for the month?

• A)$12,000
• B)$16,000
• C)$34,000
• D)$52,000

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Definitions:

Suicide Rate

The ratio of the total number of confirmed suicides to the overall population, typically expressed per 100,000 individuals in a given time frame.

Urban Residents

Individuals who live within the densely populated areas that are characteristic of cities or towns.

Developing Economies

Nations or regions experiencing rapid growth and industrialization, often characterized by lower income levels compared to developed countries.

Suicide Rates

The proportion of individuals within a given population who die by suicide over a specific period.