Capital at the beginning of the month amounted to 4,000; net ...

[sabina]

Capital at the beginning of the month amounted to 4,000; net income for the month amounted to 1,000; and withdrawals for personal use during the month amounted to 2,000 . Capital at the end of the month is
 a. 3,000.
   b. 2,000.
   c. 7,000.
   d. 5,000.

Question 2

GAAP, or generally accepted accounting principles, are the rules for preparing financial statements followed by the accounting profession in the United States.
 
  Indicate whether the statement is true or false

[ASDFGJLO]

Answer to Question 1

a

Answer to Question 2

TRUE

[sabina]

Excellent

[jomama]

TYSM