Which of the Following Is an Example of a Professional

question 83

Multiple Choice

Which of the following is an example of a professional association?

• A)the National Association of Home Builders
• B)the American Association of Retired People (AARP)
• C)the National Rifle Association
• D)the National Wildlife Federation

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Definitions:

Net Income

The total profit of a company after all expenses, taxes, and costs have been subtracted from total revenues.

Sales

The total amount of revenue generated from goods or services sold by a business.

Adjusting Entries

Adjusting entries are journal entries made in accounting at the end of an accounting period to update the accounts and ensure they reflect the true financial position of the business.

Useful Life

The estimated period over which a tangible or intangible asset is expected to be functional and economic for its intended purpose.