Sharon Samson Starts a Plumbing Service Named Reliable Waterworks

question 49

Multiple Choice

Sharon Samson starts a plumbing service named Reliable Waterworks. Selected transactions are described as follows:
A. Sharon deposited $8,000 into a new checking account for the business and recorded the capital contribution.
B. Paid $5,000 cash for equipment to be used for plumbing repairs.
C. Borrowed $10,000 from a local bank and deposited the money in the checking account.
D. Paid $800 rent for the year.
E. Paid $300 cash for plumbing supplies to be used in future.
F. Completed a plumbing repair project for a local lawyer and received $4,000 cash.
Calculate the net income.

• A) $2,900
• B) $3,700
• C) $4,000
• D) $3,200

Recognize the extraterritorial application of U.S. laws, including antitrust laws to protect foreign consumers and competitors.

Understand the responsibility of U.S. government agencies in space operations compliance with domestic and international law.

Learn about the U.S. constitutional perspective on export taxes.

Identify the role and impact of regional trade agreements and associations on minimizing trade barriers.

---

Definitions:

Financial Institutions

Businesses that provide financial services, including banks, credit unions, insurance companies, and investment firms.

Market Share

Represents the portion of a market controlled by a particular company or product.

Share of Customer

The percentage of an individual customer's purchase of a product that comes from a specific company.

Zone of Tolerance

the range within which customers are willing to accept variations in a product or service's quality.