Multiple Choice
During 2016,a company makes credit sales of $500 000,of which $375 000 is collected at year-end.It pays $200 000 in expenses and owes $25 000 for electricity used during 2016.What would the profit be if cash accounting rather than accrual accounting was used?
A) $150 000
B) $175 000
C) $275 000
D) $300 000
Correct Answer:
Verified
Correct Answer:
Verified
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