Revenue on account amounted to $6800. Cash collections of accounts receivable amounted to $4400. Expenses for the period were $3500. The company paid dividends of $1150. What was net income for the period?
A. $900
B. $3300
C. $2150
D. $3250
Answer: B
You might also like to view...
An intrusion detection system can perform all of the following functions except:
A. examining network traffic. B. setting off an alarm when suspicious activity is detected. C. checking network traffic to see if it matches certain patterns or preconfigured rules. D. blocking suspicious activity.
Profit margin is calculated by dividing net sales by net income.
Answer the following statement true (T) or false (F)
Codes that are too detailed encourage employees to substitute rules for judgment
Indicate whether the statement is true or false a. True b. False
What is a product platform?
a. A subsystem, module, or process which is used in more than one product, system or service b. Common themes found in products over a product line c. The performance level of a product, such as the base acceleration of a car d. Tools used for the R&D in developing a new product