Consider a firm Theta that spends $60 to produce goods in year 1. In year 2...

Question

Question

Answer 1

Answer #1

net income is total revenue minus the total expenses, thus the net income is $40,

as the goods have been sold in year 2, the net income will be booked in year 2 due to the concept of accrual accounting, thus the answer is:-

d)

Answer 2

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