Crue Company Had the Following Transactions During 2018

question 117

Multiple Choice

Crue Company had the following transactions during 2018:
.Sales of $4,500 on account
.Collected $2,500 for services to be performed in 2019
.Paid $1,625 cash in salaries
.Purchased airline tickets for $250 in December for a trip to take place in 2019
What is Crue's 2018 net income using cash-basis accounting after cash?

• A) $625.
• B) $875.
• C) $5,125.
• D) $5,375.

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Definitions:

Regional

Refers to activities, strategies, or influences focused on specific geographic areas or regions, often taking into account local customs, needs, or resources.

Cross-Border Merger

A transaction where companies from different countries merge to create a new entity or one absorbs the other, expanding their global footprint and operational reach.

Joint Venture

A business agreement between two or more parties to jointly undertake a specific project or business activity, sharing profits, losses, and control.

Ethnocentrism

The belief in the superiority of one's own cultural group, often accompanied by a disregard for other cultures.