The Net Income of Sarah for the Year Is $25,000

question 70

Multiple Choice

The Net Income of Sarah for the year is $25,000. The withdrawals Sarah made during the year amounted to $30,000. Which of the following statements is true of effect of these transactions on Sarah, Capital?

• A)Sarah, Capital account decreases by $25,000.
• B)Sarah, Capital account decreases by $5,000.
• C)Sarah, Capital account increases by $30,000.
• D)Sarah, Capital account increases by $25,000.

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Definitions:

Spanish-American-Cuban-Filipino War

Another name for the 1898 Spanish-American War, emphasizing its significance and consequences for Cuba and the Philippines.

Treaty of Paris

Refers to several significant treaties, with the one in 1783 ending the American Revolutionary War and recognizing American independence from Britain being very notable.

Causes

The reasons or motivations behind events or actions, often studied to understand effects or outcomes.

Provisions

Supplies of food, drink, equipment, and other necessities, especially for a journey, military campaign, or period of scarcity.