A New Corporation Ended Its First Year of Operations with Assets

question 51

Multiple Choice

A new corporation ended its first year of operations with assets of $100,000,liabilities of $75,000,and contributed capital (common shares) of $10,000.What was the corporation's profit for the year?

• A)$25,000
• B)$65,000
• C)$90,000
• D)$75,000
• E)$15,000

Analyze the efficiency of output in different market structures, including perfect competition and monopolistic scenarios.

Understand how collusion among firms affects market outcomes and prices.

Determine the profit-maximizing strategies for firms in various market conditions.

Analyze the impact of marginal cost and fixed cost on production decisions.

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Definitions:

Referential Integrity

A concept in database management that ensures relationships between tables remain consistent, where keys in one table match keys in another.

Data Redundancy

The unnecessary repetition of data within a database, which can lead to inconsistencies and increased storage requirements.

Access Rules

Set of guidelines or permissions defined in a database or application to control access to data or features based on user roles or credentials.

Import Spreadsheet Wizard

A tool or assistant in software applications that guides users through the process of importing data from a spreadsheet into another application or format.