Norris Company Experienced the Following Transactions During 2013, Its First

question 94

Multiple Choice

Norris Company experienced the following transactions during 2013, its first year in operation.
1) Issued $6,000 of common stock to stockholders.
2) Provided $2,300 of services on account.
3) Paid $1,600 cash for operating expenses.
4) Collected $1,900 of cash from accounts receivable.
5) Paid a $100 cash dividend to stockholders.
The amount of net income recognized on Norris Company's 2013 income statement is:

• A) $500.
• B) $400.
• C) $700.
• D) $600.

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Definitions:

Buyer Persona

A semi-fictional representation of your ideal customer based on market research and real data about your existing customers.

Customer Demographics

The statistical characteristics of a business's customers, including age, gender, income level, education, and other factors useful for market segmentation and targeting.

Psychographics

Psychographics pertain to the study of consumer behavior based on psychological traits, lifestyle choices, and personal values to inform marketing strategies.

Market

A place where people can sell goods and services (the supply) to people who wish to buy those goods and services (the demand).