Revenue on Account Amounted to $5,000

question 77

Multiple Choice

Revenue on account amounted to $5,000.Cash collections of accounts receivable amounted to $2,300.Expenses for the period were $2,100.The company paid dividends of $450.Net income for the period was

• A)$1,200.
• B)$2,900.
• C)$2,850.
• D)$2,450.

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Definitions:

High Self-esteem

A positive evaluation of oneself, characterized by confidence and a sense of self-worth.

High Conscientiousness

A personality trait characterized by diligence, carefulness, thoroughness, and a tendency to follow through with obligations.

Internal Control

Internal control is a process implemented by management and other personnel to provide reasonable assurance regarding the achievement of objectives in effectiveness and efficiency of operations, reliability of financial reporting, and compliance with laws and regulations.

Negative Behaviour

Actions or attitudes that are harmful or undesirable within a social or work setting.