The balance sheet shows:
A. the amount of net income or loss.
B. the financial position of a business at a given time.
C. all revenues and expenses.
D. the results of business operations.
Answer: B
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The %TYPE declaration instructs the system to assign the variable data type based on the underlying table column data type at runtime.
Answer the following statement true (T) or false (F)
During January 2018, the first month of operations, a consulting firm had following transactions:1. Issued common stock to owners in exchange for $20,000 cash. 2. Purchased $5,000 of equipment, paying $1,000 cash and signing a promissory note for $4,000. 3. Received $9,000 in cash for consulting services performed in January. 4. Purchased $1,500 of supplies on account; all of the supplies were used in January. 5. Provided consulting services on account in the amount of $16,000. 6. Paid $750 on account. 7. Paid $3,000 to employees for work performed during January. 8. Received a bill for utilities for January of $3,400; the bill remains unpaid. What is the total expenses that will be reported on the income statement for the month ended January 31?
A. $4,500. B. $7,900. C. $8,150. D. $3,750.
Verci and Banok skidded on the ice and hit a telephone pole. Their car suffered severe damage to the front end. This expense will be covered under part D called
A) liability coverage. B) damage to your automobile coverage. C) underinsured damage coverage. D) property damage coverage.
Which one of the following investment strategies would NOT appeal to an investor who is most concerned with storage of value?
A) buy-and-hold B) high income C) quality long-term growth D) speculation and short-term trading