The Following Are the Current Month's Balances for Adams Marketing

question 140

Multiple Choice

The following are the current month's balances for Adams Marketing Company. $$\begin{array} { | l | r | } \hline \text { Accounts Payable } & \$ 7,000 \\\hline \text { Revenue } & 11,000 \\\hline \text { Cash } & 3,000 \\\hline \text { Expenses } & 1,500 \\\hline \text { Furniture } & 14,000 \\\hline \text { Accounts Receivable } & 14,000 \\\hline \text { Common Stock } & 10,250 \\\hline \text { Notes Payable } & 5,500 \\\hline\end{array}$$ What is the net income for Adams Marketing for the current month?

• A)$11,000
• B)$9,500
• C)$12,500
• D)$14,000

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Definitions:

Nineteenth Amendment

An amendment to the United States Constitution granted women the right to vote, ratified in 1920.

Nazism

The ideologies and practices associated with the National Socialist German Workers' Party, led by Adolf Hitler; characterized by fascist policies, racial purity rhetoric, and totalitarian governance.

Protestantism

A branch of Christianity that originated with the Reformation, a movement against what its followers perceived as errors in the Roman Catholic Church.

Garrett Hardin

An American ecologist and philosopher who is known for his work on human population growth, environmental ethics, and the concept of the "Tragedy of the Commons."