Net income for a company is 35,000 for the current year. The ...

[bobthebuilder]

Net income for a company is 35,000 for the current year. The owner withdrew 3,500 per month for personal expenses. The owner's Capital account will show a net
 a. decrease of 7,000.
   b. increase of 7,000.
   c. decrease of 42,000.
   d. increase of 42,000.
   e. increase of 77,000.

Question 2

Which of the following business valuation organizations merged with the NACVA in 2012?
 
  A) the American Society of Certified Analysts
  B) the Institute of Business Appraisers
  C) the American Society of Appraisers
  D) the Institute of Valuation Analysts

[aham8f]

Answer to Question 1

a

Answer to Question 2

B
Explanation: B) The Institute of Business Appraisers (IBA) merged with NACVA in 2012.