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Mason Corporation began the year with cash of $35,000 and a computer that cost $62,000. During the year Mason earned sales revenue of $55,000 and had the following expenses: salaries, $58,000; rent, $21,000; and utilities, $6,000. At year-end Mason's cash balance was down to $18,000. How much net income did Mason experience for the year?
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The City of Southern Pines reported the following at year-end, prior to closing entries: Revenues, $11,000,000; Expenditures, $10,100,000; Other Financing Uses, $500,000;
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You're a US company with a customer that is going to pay you 10,000 Euros in six months. The correct futures hedge for this condition is to enter in a contract in which you buy Euros (True or False)
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