Use the Following Diagram to Answer the Following Questions

question 23

Multiple Choice

Use the following diagram to answer the following questions.

-Refer to Wages. Employment loss from government imposing a minimum wage is given by:

• A) N₁.
• B) N₂.
• C) N₃-N₁.
• D) N₂-N₁.

---

Definitions:

Expense Accounts

Financial accounts used to track money spent or costs incurred in a company's operations.

Credits

Entries in accounting that increase liabilities, revenue, or equity accounts, or decrease asset or expense accounts.

Withdrawals

Money or assets taken out of a business by its owner(s) for personal use.

Owner's Equity

The ownership stake of shareholders or owners in a company's assets once all debts have been subtracted.