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.

Understand the economic and legal facets of protecting intellectual property rights in a global context.

Understand fundamental sociological perspectives and how they explain society and human behavior.

Recognize the contributions of key sociological theorists to the field.

Distinguish between qualitative and quantitative research methods in sociology.

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Definitions:

Cyanosis

A bluish or purplish discoloration of the skin and mucous membranes due to insufficient oxygen in the blood.

Blood Pressure

The pressure exerted by circulating blood upon the walls of blood vessels, usually measured using a sphygmomanometer.

Intercostal Space

The anatomical area located between two ribs, which contains muscles and nerves and plays a key role in the mechanics of breathing.

Mitral Valve

A valve in the heart that allows blood to flow from the left atrium to the left ventricle.