Profit is the difference between

A) assets and liabilities
B) the incoming cash and outgoing cash
C) the assets purchased with cash contributed by the owner and the cash spent to operate the business
D) the amounts received from customers for goods or services and the amounts paid for The inputs used to provide the goods or services

A bond with face value $1,000 that sells for $1,000 in the market is called a ___________ bond.

A) Par.
B) Discount.
C) Premium.
D) Zero-coupon.
E) Floating rate.

KAB Incorporated, a small retail store, had the following results for May. The budgets for June and July are also given. Sales are collected 80% in the month of the sale and the balance in the month following the sale. (There are no bad debts.) The goods that are sold are purchased in the month prior to sale. Suppliers of the goods are paid in the month following the sale. The "selling and administrative expenses" are paid in the month of the sale.The cash disbursements during June for goods purchased for sale and for selling and administrative expenses should be:

A) $40,000
B) $41,000
C) $42,500
D) $43,500

Refer to Figure 1.6. The slope of the line between Points A and B is

A) positive and increasing.
B) positive and constant.
C) negative and decreasing.
D) negative and constant.

I truly believe that I can do a great job on this project.I am expressing which of the four positive psychological capacities?

A) hope
B) integrity
C) optimism
D) confidence

If Lucas,an accountant,agrees to provide tax services to a neighbor in exchange for the neighbor agreeing to fix his pool,Lucas but not his neighbor will have to report income on this transaction at fair market value.