Finney Company Began the Year by Issuing $80,000 of Common

question 76

Multiple Choice

Finney Company began the year by issuing $80,000 of common stock for cash. The company recorded revenues of $740,000, expenses of $640,000, and paid dividends of $40,000. What was Finney's net income for the year?

• A)$60,000
• B)$140,000
• C)$100,000
• D)$180,000

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Definitions:

Older Children

Refers to children who are in the later stages of childhood, typically considered to be ages 9 to 12.

Psychoanalysis

A therapeutic approach and theory of psychological disorders developed by Sigmund Freud, focusing on unconscious processes as they are manifested in a person's behavior.

Conscious Thought

The awareness of one's own mental processes, including thoughts, feelings, and sensations.

Unconscious Thought

A rephrased definition: The processing of information or decision-making that occurs without conscious awareness, influencing behaviors and attitudes.