Two categories of expenses in merchandising companies are
a. cost of goods sold and financing expenses.
b. operating expenses and financing expenses.
c. cost of goods sold and operating expenses.
d. sales and cost of goods sold.
Ans: c. cost of goods sold and operating expenses.
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Governments can help all businesses by_____
a. prioritizing multi-national companies over domestic ones b. maximizing nationalization of the private sector c. protecting the interests of the society at large d. promoting anti-competitive practices
The balance of stockholders' equity at the beginning of the year and the end of the year was $50,000 and $60,000, respectively. The company issued no common stock during the year. Dividends were $20,000. What was the net income or loss for the year?
A) Net income of $80,000 B) Net loss of $80,000 C) Net loss of $30,000 D) Net income of $30,000