Consider the Following Transactions: I

question 20

Multiple Choice

Consider the following transactions: I. Owners invested $8,000 cash to begin the business
II. Provided services for cash, $6,000
III. Provided services on account, $4,000
IV. Paid cash for expenses, $7,500
How much net income did the business have?

• A)$6,000
• B)$2,500
• C)$4,000
• D)$3,000

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Definitions:

Physical Handicaps

Physical handicaps are impairments that substantially limit one or more of a person's major life activities, involving bodily functions or structures.

Intellectual Disability

This refers to a state marked by substantial impairments in intellectual capabilities and in adaptive behavior, including a wide array of daily social and practical skills.

Biological Factors

Physical or genetic traits that influence an individual's health, behavior, and development.

Mild Level

A low intensity or severity degree of a condition, situation, or phenomenon.