alleryA landscaper earned 1,400 and spent 1,150 in August. Her net income for the month is:
A250
B550
C150
D350
Answer & Solution
Correct answer: A. 250
1. Net income is revenue minus expenses.
2. 1,400 minus 1,150 leaves 250.
3. Her net income is 250.
_Source: OpenStax Principles of Financial Accounting, Chapter 2, Introduction to Financial Statements._
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