The condensed income statement for a business for the past year is presented as follows:
A)$30,000 decrease
B)$30,000 increase
C)$20,000 decrease
D)$20,000 increase

Name: The condensed income statement for a business for the past year is presented as follows: A)$30,000 decrease B)$30,000 increase C)$20,000 decrease D)$20,000 increase
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Question

Quizplus · Accepted Answer

The correct choice is a $30,000 decrease, as it is the only option that aligns with the context of a condensed income statement indicating a reduction in income.

The Condensed Income Statement for a Business for the Past