Glendale Company Had the Following Transactions in August

question 168

Multiple Choice

Glendale Company had the following transactions in August:
Earned $5,000 of revenues on account;collected $2,000 from a customer for services provided last month;incurred $500 of repair expense and paid cash;paid $300 for rent that it owed from the previous month.
What is the net income in August?

• A)$500
• B)$2,000
• C)$6,500
• D)$4,500

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Definitions:

Customer Relationship Management

A strategy for managing an organization's interactions with current and potential customers, often using data analysis to study large amounts of information.

Private-label Merchandise

Products that are manufactured or provided by one company for offer under another company's brand, often found in retail to offer exclusive branding options to the retailer.

Personalized Offerings

Customized products or services designed to meet the specific needs or preferences of an individual customer.

Rapid Delivery

A service process that ensures products or goods are delivered to the customer promptly, often within the same day or a few hours.