Given That Monika's Income Exceeds Her Expenditures,Monika Is Best Described

question 7

Multiple Choice

Given that Monika's income exceeds her expenditures,Monika is best described as a

• A)saver or as a supplier of funds.
• B)saver or as a demander of funds.
• C)borrower or as a supplier of funds.
• D)borrower or as a demander of funds.

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Definitions:

Long Term Assets

Assets that are expected to provide economic benefits to a company over a period longer than one year, like buildings and machinery.

Condensed Balance Sheets

Simplified financial statements presenting only the most essential information about a company's financial position.

Fixed Assets

Long-term tangible assets used in the operation of a business that are not likely to be converted to cash within one year.

Capital Expenditures

Financial resources dedicated by a corporation towards the acquisition, betterment, and maintenance of real assets, like real estate, industrial plants, or machinery.