Answer:
Correct option is (B)
Explanation:
Given:
Beginning capital = $80,000
Net income = $35,000
Drawings = $18,000
Net income is added to opening capital and deduct drawings to arrive at capital balance at the end.
Capital at the end of the year = opening capital + net income - drawings
= 80,000 + 35,000 - 18,000
= $97,000
Answer:
a condition or circumstance that puts a company in a favourable or superior business position.
Answer:
equity, freedom, security, efficiency, growth
Explanation:
The economic goals include:
1. Equity: occurs in an economy when income and wealth are fairly distributed within a society.
2. Efficiency (efficiency freedom): is achieved when society is able to get the greatest amount of satisfaction from available resources in an economy
3. Economic growth: when there is an increase in the economy's ability to produce goods and services, often indicated by measuring the growth rate of production.
The other economic goals are:
Economic Stability, balance of payment, Price Stability or Controlling Inflation and Full Employment.
Answer:
a.Increase Net Income
Explanation:
Unearned Revenue
The Accrual Principle requires Incomes and expenses to be recorded in the period they occur or incur.
Revenue not earned has not yet occurred and can not be recognized hence no effect on revenues reported for the period.
Fees earned
Fees earned represents increases in economic benefits from non primary activities of the company.
This has the overall effect of increasing Net income in the reporting period
The correct answer is A. Because if you want to start a new business is more convenient do it as solo proprietorship