After Closing the Revenue,expense,and Withdrawal Accounts,the Capital Increased by $2,000

question 31

Multiple Choice

After closing the revenue,expense,and withdrawal accounts,the capital increased by $2,000.Which of the following situations could have occurred?

• A)The company had a net income.
• B)The owner invested an additional amount.
• C)The owner made a withdrawal.
• D)All of these answers are correct.

Comprehend the concepts of empowerment and the importance of decision-making in the workplace.

Identify the differences between traditional organizational designs and contemporary models like boundaryless, network, and virtual organizations.

Examine the role and significance of strategic alliances, supplier relationships, and project teams in organizational effectiveness.

Understand the advantages and potential disadvantages of using network structures in organizations.

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Definitions:

Consumption

The use of goods and services by households, constituting a primary component of GDP.

Price Mechanism

The system in which the forces of supply and demand determine the prices of goods and services in a market economy.

Wage

Compensation in the form of financial payment received by an employee from an employer in exchange for work performed.

Price Controls

Government regulations establishing maximum or minimum prices to be charged for specified goods and services, often intended to manage inflation or protect consumers.