Refer to the Information Provided in Table 7

question 187

Multiple Choice

Refer to the information provided in Table 7.2 below to answer the questions that follow.
Table 7.2
-Refer to Table 7.2. The labor force

• A) equals 130 million.
• B) equals 150 million.
• C) equals 170 million
• D) cannot be determined from this information.

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Definitions:

Revenues

Revenues refer to the income that a business generates from its normal business operations, typically from the sale of goods and services to customers.

Owner's Capital

The amount of equity a business owner has invested in the company, reflecting the difference between the company's assets and liabilities.

Credit Balance

A condition where the sum of credits in an account exceeds the sum of debits, often signaling a net liability or income.

Liability Account

An account on a company's balance sheet that represents obligations or debts that the company is responsible for repaying.