Use the Following Information for Questions $¥ 9,000$ On Account
- Collected

question 136

Multiple Choice

Use the following information for questions . Ling Company had the following transactions during 2011:
- Sales of $¥ 9,000$ on account
- Collected $¥ 4,000$ for services to be performed in 2012
- Paid $¥ 1,250$ cash in salaries
- Purchased airline tickets for $¥ 500$ in December for a trip to take place in 2012
-What is Ling's 2011 net income using cash basis accounting?

• A) \(¥ 11,750\).
• B) \(¥ 2,750\).
• C) \(¥ 11,250\).
• D) \(¥ 2,250\).

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Definitions:

Curfew

A regulation requiring people to remain indoors during designated hours, typically imposed by a government or authoritative body.

Procedural Justice

The fairness and transparency of the processes that lead to outcomes or decisions.

Status Construction

The process by which social statuses are created, maintained, and transformed through social interactions and structures.

Distributive Justice

The perceived fairness of how resources and rewards are distributed within a society or group.