During the Year 2015, Dilego Company Earned Revenues of $90,000

question 139

Multiple Choice

During the year 2015, Dilego Company earned revenues of $90,000, had expenses of $56,000, purchased assets with a cost of $10,000 and paid dividends of $6,000. Net income for the year is

• A)$18,000.
• B)$24,000.
• C)$28,000.
• D)$34,000.

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Definitions:

Cult of Domesticity

A prevailing value system among the upper and middle classes during the 19th century in the United States and Britain that emphasized the virtues of women in their roles as mothers and housewives.

Marquis de Lafayette

A French aristocrat and military officer who played a significant role in the American Revolution by aiding the Thirteen Colonies in their quest for independence from Britain.

American Independence

The historical event achieved in 1776 when the Thirteen Colonies successfully declared their independence from British rule, marked formally by the Declaration of Independence.

Land of Slavery

A term often used to describe regions or countries where slavery was legally practiced and integral to the economy and society.