Use the Following End-Of-Period Spreadsheet to Answer the Questions That

question 85

Multiple Choice

Use the following end-of-period spreadsheet to answer the questions that follow.
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-Use the end-of-period spreadsheet for Finley Company. The ending balance in C. Finley, Capital is

• A) $33,000
• B) $80,000
• C) $30,000
• D) $83,000

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Definitions:

National Income

Total income earned by resource suppliers for their contributions to gross domestic product plus taxes on production and imports; the sum of wages and salaries, rent, interest, profit, proprietors’ income, and such taxes.

Developing Countries

Nations with a lower level of industrialization, lower living standards, and lower Human Development Index (HDI) than developed countries.

Per Capita Income

This is the average income earned per person in a given area in a specified year.

Developing Nations

Countries that are in the process of industrialization and have lower per capita income levels compared to developed countries.