Crue Company Had the Following Transactions During 2015

question 162

Multiple Choice

Crue Company had the following transactions during 2015:
-Sales of $4,500 on account
-Collected $2,500 for services to be performed in 2016
-Paid $1,625 cash in salaries
-Purchased airline tickets for $250 in December for a trip to take place in 2016
What is Crue's 2015 net income using cash basis accounting?

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

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Definitions:

Recall Test

A type of memory test where individuals are asked to remember and reproduce information without cues.

Whole-language Approach

An educational method that emphasizes learning words and sentences in their entirety as the key to understanding written language.

Basic-skills-and-phonetics

Fundamental abilities combined with the study of sounds of human speech used in teaching reading and pronunciation.

ABC Approach

A method used to manage priorities or behaviors, typically identifying Antecedents, Behaviors, and Consequences.