During February 2022 Its First Month of Operations the Owner

question 82

Multiple Choice

During February 2022 its first month of operations the owner of Schwenn Enterprises invested cash of $100000.Schwenn had cash sales of $20000 and paid expenses of $35000.Assuming no other transactions impacted the cash account what is the balance in Cash on February 28?

• A)$15000
• B)$85000
• C)$120000
• D)$65000

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Definitions:

Immediate Gratification

The desire to experience pleasure or fulfillment without delay or deferment.

Permissive

A term often describing an attitude, behavior, or policy that allows or tolerates actions that were formerly disapproved of or restricted.

Absolute Poverty

A condition where individuals or families cannot meet basic needs for survival, such as food, shelter, and clothing.

Basic Necessities

Refers to essential items and services required for individuals to live and function, such as food, shelter, clothing, and healthcare.