Ashley's Accessory Shop Started the Year with Total Assets of $210,000

question 54

Multiple Choice

Ashley's Accessory Shop started the year with total assets of $210,000 and total liabilities of $120,000. During the year the business recorded $330,000 in revenues, $165,000 in expenses, and dividends of $60,000. The net income reported by Ashley's Accessory Shop for the year was

• A)$120,000.
• B)$150,000.
• C)$195,000.
• D)$165,000.

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Definitions:

Sales Promotion

Sales promotion refers to a variety of marketing strategies designed to stimulate short-term consumer demand for a product or service and encourage sales.

Persuasive Elements

Persuasive elements consist of techniques or components used in communication to influence someone's attitudes, beliefs, or actions.

Informational

Refers to data or content that provides valuable knowledge and insights.

Directories (Yellow Pages)

Printed or online listings of businesses by category or location, traditionally used for advertising and as a reference for consumers to find services.