A Company Reported the Following Asset and Liability Balances at the End

question 72

Multiple Choice

A company reported the following asset and liability balances at the end of 2018 and 2019: During 2019,cash dividends of $50,000 were declared and paid,and common stock was issued for $100,000.What was the amount of net income for 2019?

• A)$400,000.
• B)$480,000.
• C)$350,000.
• D)$300,000.

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Definitions:

Disruptive Activity

Refers to actions or innovations that significantly alter the way businesses or industries operate, often displacing established market leaders.

Minority Domination

Situations where a smaller group, often ethnically, racially, or socioeconomically different from the majority, holds disproportionate power or influence.

Consensus

General agreement among the members of a group or community, often achieved through cooperative discussion without any significant opposition.

Small Coalition

A minimal grouping of individuals or entities that unites to pursue a specific goal or interest.