Stahl Consulting Started the Year with Total Assets of $60,000

question 70

Multiple Choice

Stahl Consulting started the year with total assets of $60,000 and total liabilities of $15,000. During the year, the business recorded $48,000 in catering revenues and $30,000 in expenses. Stahl issued stock of $9,000 and paid dividends of $15,000 during the year. The net income reported by Stahl Consulting for the year was:

• A) $3,000.
• B) $12,000.
• C) $18,000.
• D) $27,000.

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Definitions:

F-distributions

A continuous probability distribution that arises in the testing of whether two population variances are equal.

Standard Normal Distribution

A statistical distribution with a mean of 0 and a standard deviation of 1, where data fits a specific pattern that is symmetrical around the mean.

Chi-squared Distribution

A probability distribution that arises in statistics when estimating how closely an observed distribution matches an expected distribution.

Interval Data

A type of data measurement where the order of the data points is meaningful and the difference between data points is consistent and measurable.