For the Financial Year Ending 30 June,Sunset Ltd Had a Beginning

question 26

Multiple Choice

For the financial year ending 30 June,Sunset Ltd had a beginning balance for equity of $180 000 and an ending balance of $175 000.During the year the owner withdrew $120 000 for private use.How much profit did Sunset Ltd earn during the year?

• A) $5 000
• B) $115 000
• C) $125 000
• D) $60 000

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Definitions:

Demand P

This term seems unclear or incomplete as presented; it possibly refers to "demand price," which is the price at which consumers are willing to buy a specific quantity of goods.

Price Ceiling

A legally established maximum price that can be charged for a good or service.

Deadweight Loss

The reduction in economic productivity that takes place when a good or service fails to achieve or cannot achieve its balance point.

Equilibrium Price

The rate at which the amount of products offered matches the amount of products consumers desire in the marketplace.