Which of the Following Is the Most Likely Structure of the Following

question 48

Multiple Choice

Which of the following is the most likely structure of the following cation after rearrangement?

• A) I
• B) II
• C) III
• D) IV
• E) V

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Definitions:

Revenue and Expense Accounts

Accounts used in accounting to track the income generated and expenses incurred by a business, integral to determining net profit or loss.

Income Summary

An account in accounting used to gather all revenue and expenses for a period to calculate net income (or loss).

Owner's Drawings

The amount of cash or other assets withdrawn by the owner from the business for the owner's personal use.

Net Income

The amount of profit earned by a business after all expenses and taxes have been subtracted from total revenue.