Use the Following Information for Questions

question 20

Multiple Choice

Use the following information for questions
Nelson Company experienced the following transactions during 2016,its first year in operation.
1.Issued $12,000 of common stock to stockholders.
2.Provided $4,600 of services on account.
3.Paid $3,200 cash for operating expenses.
4.Collected $3,800 of cash from accounts receivable.
5.Paid a $200 cash dividend to stockholders.
-The total amount of assets shown on Nelson Company's December 31,2016 balance sheet is:

• A)$12,400.
• B)$12,600.
• C)$13,400.
• D)$13,200.

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Definitions:

Minimize Losses

A strategy employed to reduce the amount of loss in financial, operational, or other terms as much as possible.

Perfect Competition

A market structure where many firms offer products or services that are similar, leading to a level playing field.

Product Differentiation

The act of setting a product or service apart from those in the market to enhance its attractiveness to a certain target group.

Demand Curves

A graphical representation showcasing the relationship between the price of a good or service and the quantity demanded by consumers at various price levels.