Which of the Following Statements Is Correct

question 102

Multiple Choice

Which of the following statements is correct?

• A) The risk of failure for women-owned businesses is lower than average.
• B) Women are starting businesses at about the same rate as men.
• C) Women are almost always sure to succeed.
• D) Women own 7.7 million businesses in the United States.
• E) Minority business owners pay lower federal tax on profits than men do.

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Definitions:

Ledger Accounts

A record within the general ledger that is used to collect and store balance and transaction information for individual items such as assets, liabilities, equity, revenues, and expenses.

Retained Earnings Account

An equity account that represents the accumulated portion of net income that a company has decided to keep and reinvest in the business rather than distribute to shareholders as dividends.

Permanent Account Balances

Permanent account balances are those balances in accounts that are carried over into the next accounting period, including assets, liabilities, and equity accounts.