Carrington,Inc

question 117

Multiple Choice

Carrington,Inc.recorded $97,000 in salary expense for January 2017.Its beginning balance in salaries payable was $3,000,and its ending balance was $4,000.How much was paid in cash for salaries during January 2017?

• A)$96,000
• B)$97,000
• C)$98,000
• D)$99,000

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Definitions:

Prices

The monetary value assigned to goods or services, representing the amount a buyer pays to a seller in a market transaction.

Income

The income earned, usually periodically, from labor or investment returns.

Prices

The sum of money anticipated, needed, or provided as payment for an item.

Utility Function

A mathematical representation that ranks preferences over a set of goods and services, showing the level of satisfaction or utility a consumer receives.