Net Income Is Reported on the Income Statement at $75,000

question 109

Multiple Choice

Net income is reported on the income statement at $75,000. Adjusting entries for accrued revenues of $6,000 and unearned revenue earned during the current period of $2,500 were accidentally omitted. The correct net income is:

• A)$83,500.
• B)$81,000.
• C)$77,500.
• D)$78,500.

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Definitions:

Continuous Random Variable

A variable that can assume an infinite number of values within a given range, where the outcomes cannot be counted but are measured.

Density Function

A mathematical function that describes the probability distribution of a continuous random variable, indicating how the total probability is distributed over the various possible values the variable can take.

Symmetric

A characteristic of shapes, equations, or other entities that remain unchanged when reflected, rotated, or transformed in specific ways.

Tails

The ends of a distribution curve, referring to the extreme values far from the mean in a probability distribution.