Beginning Owner's Capital Is $20,000

question 119

Multiple Choice

Beginning owner's capital is $20,000.No capital contributions were made during the year.Drawings were $7,000.Ending owner's capital is $37,000.What was net income?

• A) $24,000
• B) $13,000
• C) $10,000
• D) $27,000

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Definitions:

Managed Care

A health care delivery system aimed at managing cost, quality, and utilization of services, often involving pre-arranged networks of providers and significant oversight of care.

Satisfaction

The state of being content or pleased with an outcome, service, or situation.

Quality of Care

The degree to which health care services for individuals and populations increase the likelihood of desired health outcomes and are consistent with current professional knowledge.

Managed Care

A healthcare delivery system designed to manage cost, utilization, and quality, often through coordination of care and provider networks.