The Net Income Reported on the Income Statement Is $85,000

question 80

Multiple Choice

The net income reported on the income statement is $85,000. However, adjusting entries have not been made at the end of the period for supplies expense of $2,200 and accrued salaries of $800. Net income, as corrected, is

• A) $84,200
• B) $85,000
• C) $82,800
• D) $82,000

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Definitions:

Superordinate Categories

High-level classification groups that encompass more specific instances or members, based on common properties or characteristics.

Stereotyping And Prejudice

The process and practice of making oversimplified and generalized judgments about individuals or groups based on perceived characteristics, often leading to unfair biases.

Recategorization

The process of redefining or changing the classification of something, often to aid in understanding or grouping.

Altering Attitudes

The process of changing one’s own or another's stance, opinion, or feelings towards someone or something.