Use the Information Given Below to Answer the Following Questions

question 15

Multiple Choice

Use the information given below to answer the following questions:
$$\begin{array} { l r } &\$\\\text { Cash sales } & 20000 \\\text { Credit sales } & 60000 \\\text { Cash received from accounts receivable } & 42000 \\\text { Wages paid } & 10000 \\\text { Wages owing at year-end } & 8000\end{array}$$
-What is the net profit for 2012?

• A) $70 000
• B) $62 000
• C) $104 000
• D) $112 000.

Grasp the basic concepts of urine acidity, and the implications of changes in urine composition.

Understand and calculate the sum of infinite geometric series.

Comprehend the valuation of zero coupon bonds and directly related financial instruments under varying interest rates.

Determine the fair value of bonds given their face value, interest rate, and duration.

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Definitions:

Discount

A reduction from the usual cost of something, or the act of lowering the price of goods, services, or securities.

Day

A 24-hour period from midnight to midnight.

Income

The money received, especially on a regular basis, for work or through investments.

Financial Statement

An authorized ledger recording the economic occurrences and financial wellbeing of a company, person, or any distinct entity.