If Joe Donaldson Deposited $80,000 in a Bank Account, Purchased

question 7

Multiple Choice

If Joe Donaldson deposited $80,000 in a bank account, purchased a company for $60,000 cash (Building $40,000 and Inventory $20,000) , performed services for clients for $10,000 cash, purchased supplies for $5,000 cash, and paid utilities of $2,000 cash, what is the company's net income for the month?

• A)$8,000
• B)$5,000
• C)$3,000
• D)None of the above

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Definitions:

Economic Principle

A widely accepted theory or law that underpins the analysis of economic behaviors and decision-making.

Extra Money

Additional funds or income that surpasses one's regular or expected amount, possibly available for discretionary spending or saving.

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Filmed entertainment viewed by audiences in theaters or through various digital platforms, encompassing a wide range of genres and styles.

Marginal Analysis

An economic method that involves comparing additional benefits and costs incurred from a particular action for decision-making purposes.