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Exhibit 2-1 -Refer to Exhibit 2-1.What Is Net Income,assuming $50,000 of Stock

question 2

Multiple Choice

Exhibit 2-1
Exhibit 2-1 -Refer to Exhibit 2-1.What is net income,assuming $50,000 of stock was issued and no dividends were paid? A) $110,000 B) $85,000 C) $70,000 D) $200,000
-Refer to Exhibit 2-1.What is net income,assuming $50,000 of stock was issued and no dividends were paid?

Definitions:

Collateral

Assets pledged by a borrower to secure a loan or credit, which the lender may seize if the borrower fails to repay the loan.

Deposit Account

A bank account that holds deposited funds, such as a savings or checking account, allowing for the deposit and withdrawal of money.

Perfection

In law, especially regarding secured transactions, refers to the act of making a security interest enforceable against third parties by fulfilling legal requirements.

Financing Statement

A document filed by a creditor to announce a security interest in a debtor's assets, used in securing loans.