Lori Nichols Started an Engineering Firm,Engineering Enterprises P

question 168

Multiple Choice

Lori Nichols started an engineering firm,Engineering Enterprises P.C.During its first month of operations,the following transactions were completed: I.Lori invested $33,000 in the business,which in turn issued common stock to her.
V.The business received cash from a customer as payment on account $7,000.
At the end of the month,cash equals:

• A)$33,000.
• B)$38,000.
• C)$45,000.
• D)$71,000.

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Definitions:

Administrators

Individuals who are responsible for managing and overseeing the operations of organizations or parts of organizations, ensuring that they function efficiently.

Risk Taking Behavior

The propensity to engage in activities that have the potential to result in significant loss or gain.

Revenue and Expense Analysis

An examination of the income generated and costs incurred by a business, aiming to understand financial health and performance.

Management Function

The activities and duties that managers engage in to plan, organize, lead, and control an organization's resources effectively.