Ian bought some goods in May for $600 and sold them in the following August for $950.For the financial year ending on 30 June,which of the following statements is correct? A.Ian has expenses amounting to $600 B.Ian has assets of $600 C.Ian has revenues amounting to $950 D.Ian has a profit of $350
Ian bought some goods in May for $600 and sold them in the following August for $950.For the financial year ending on 30 June,which of the following statements is correct? A.Ian has expenses amounting to $600 B.Ian has assets of $600 C.Ian has revenues amounting to $950 D.Ian has a profit of $350
Chapter5: Gross Income: Exclusions
Section: Chapter Questions
Problem 2BCRQ
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Ian bought some goods in May for $600 and sold them in the following August for $950.For the financial year ending on 30 June,which of the following statements is correct?
A.Ian has expenses amounting to $600
B.Ian has assets of $600
C.Ian has revenues amounting to $950
D.Ian has a profit of $350
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ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT