40. If revenue was $70,000, expenses were $59,000, and
the owner’s withdrawals were $25,000, the amount of net
income or net loss was:
a) net income of $11,000
b) Net income of $36,000
c) Net loss of $59,000
d) Net income of $70,000
Re: 40. If revenue was $70,000, expenses were $59,000, and
the owner’s withdrawals were $25,000, the amount of net
income or net loss was:
a) net income of $11,000
b) Net income of $36,000
c) Net loss of $59,000
d) Net income of $70,000
Re: 40. If revenue was $70,000, expenses were $59,000, and
the owner’s withdrawals were $25,000, the amount of net
income or net loss was:
a) net income of $11,000
b) Net income of $36,000
c) Net loss of $59,000
d) Net income of $70,000
Re: 40. If revenue was $70,000, expenses were $59,000, and
the owner’s withdrawals were $25,000, the amount of net
income or net loss was:
a) net income of $11,000
b) Net income of $36,000
c) Net loss of $59,000
d) Net income of $70,000
libilities accounts come under what type of accounts(under
real, nominal or personal) if its nominal, generally
nominal will not come in balance sheet, why we shown in
balance shhet?
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