Golden Company Had These Transactions During the Accounting Period: Sold

question 19

Multiple Choice

Golden Company had these transactions during the accounting period: Sold merchandise for $600; its cost was $400.
Collected $400 from a trade receivable.The account was established in the previous year.
Used office supplies of $50.
Golden's profit for the period would be which of the following?

• A)$50.
• B)$150.
• C)$600.
• D)$900.

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Definitions:

4 × 100 Relay

The 4 × 100 relay is an athletics track event where four team members each run 100 meters, passing a baton in a race against other teams.

Independent

A term typically used in statistics to describe a condition where two events or variables have no influence on each other.

Random Variable

A variable whose values are determined by the numerical results of a random event.

Independent

Not influenced or controlled by others; in statistics, variables that are not affected by other variables in the model.