As of December 31, Year 1, Mason Company had $500 cash. During Year 2, Mason earned $1,200 of cash revenue and paid $800 of cash expenses. The amount of cash shown on the balance sheet at the end of Year 2 would be:
A. $2,500.
B. $900.
C. $1,700.
D. $400.
Answer: B
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Fill in the blank(s) with correct word
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When you ask yourself “What am I willing to lose? What am I truly willing to give up in terms of money, reputation, time, and opportunity cost?” you are practicing which component of The Practice of Entrepreneurship?
a. Identifying your desired impact on the world b. Starting with the means at hand c. Describing the idea today d. Calculating affordable loss
The Uniform Commercial Code controls:
a. contracts for the sale of goods. b. contracts involving interstate commerce. c. contracts involving banks. d. contracts for the sale of real property. e. None of the above