The Net Income Reported on the Income Statement for the Current

question 32

Multiple Choice

The net income reported on the income statement for the current year was $310,000.Depreciation recorded on fixed assets and amortization of patents for the year were $40,000 and $9,000,respectively.Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows:

• A)$233,000
• B)$289,000
• C)$387,000
• D)$331,000

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Definitions:

History Of Changes

A record of modifications made to a document, data entry, or database, tracking the alterations and who has made them.

Caption Property

An attribute in software development used to define the textual label associated with a user interface control or element.

ProdDesc

Abbreviation for Product Description, detailing characteristics and specifications of a product.

Table Datasheet

A view in database applications that displays data from a table in a grid format, allowing for data entry, editing, and viewing.