Answer:
$10,000
Explanation:
A company's income is either shared out as dividends or kept in as retained earnings. Therefore, the total of retained earnings and dividend paid out is the net income. This is the amount that will reflect in the income statement. In other words, income is calculated first before dividends or retained earnings are declared.
For Martinville, income will be calculated first before dividends are paid. Net income will be
=revenue - expenses
=$17,000 -$7,000
=$10,000
Balance in the Income Summary account was $10,000
Monopoly is a seller<span> that is selling a unique product in the market and in a </span>monopoly<span> market, the seller faces no competition. </span>
A firm that is a monopoly can ignore the actions of other firms. From the given option the following best describes monopoly:
<span>C: A monopoly is a firm that is the only seller of a product in a given industry.</span>
Answer and explanation:
In the decision-making process, the consensus is the point at which the members of a given group agree with having decided which is the best path they should take to reach an objective. Strategies that can help come to that state faster include encouraging participation since the most team members collaborate in the decision-making, the more involved they will be the project; introducing a voting system in case there are too many differences among the team members to eventually decide what the majority agrees with; and, creating a team developing a solution in case natural consensus cannot be achieved. They will be in charge of deciding what to do based on information obtained from the discussion.
