In: Accounting
What was the amount of Golden's net income for the year?
1 |
Buying supplies would not represent a financing activity |
Buying supplies is an operating activity |
Option D is correct |
2 |
The obligations and debts of a business are referred to as liabilities. |
Option D is correct |
3 |
Statement of Retained Earnings shows how net income (loss) and dividends impacted a stockholders' equity account. |
Option A is correct |
4 |
Net income for the year = Revenue-Expenses = 2500-1500 = $1,000 |
Option A is correct |