Round 2176 to the Hundreds Place

question 27

Multiple Choice

Round 2176 to the hundreds place.

• A) 2200
• B) 2000
• C) 2180
• D) 2176
• E) 218

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Definitions:

Note Payable

An obligation in writing that promises to pay a specified sum of money at a determined future date or on demand.

Capital Balances

The amount of money that owners have invested in a company plus any retained earnings or losses.

Net Income

The total profit of a business after all expenses and taxes have been deducted from total revenue.

Closing the Revenue

The process of transferring the balances from the revenue accounts to permanent accounts at the end of an accounting period.