Use the Following Information for Questions 96-98

question 8

Multiple Choice

Use the following information for questions 96-98.
During 2014, Vaughn Corporation sold merchandise costing $2,250,000 on an installment basis for $3,000,000. The cash receipts related to these sales were collected as follows: 2014, $1,200,000; 2015, $1,050,000; 2016, $750,000.
-If expenses, other than the cost of the merchandise sold, related to the 2014 installment sales amounted to $135,000, by what amount would Vaughn's net income for 2014 increase as a result of installment sales?

• A) $ 165,000
• B) $ 266,250
• C) $ 300,000
• D) $1,065,000

Understand how Freudian theory applies to understanding individual sexuality and behavior.

Comprehend Jungian theory's explanation of individuals adopting traditional roles and addressing conflict within the self.

Grasp Fromm's theory of interpersonal relatedness and character typology.

Apply McCrae and Costa's Big Five dimensions to analyze personality traits and behaviors.

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Definitions:

Condensed Income Statement

A simplified version of an income statement that shows the main components of net income and revenue in brief.

U.S.GAAP

Generally Accepted Accounting Principles in the United States, a collection of financial reporting standards utilized in the U.S. for accounting purposes.

IFRS

The International Financial Reporting Standards (IFRS) are a set of accounting standards developed by the International Accounting Standards Board (IASB), aimed at making global financial reporting more transparent and comparable.

OCI

Other Comprehensive Income, which includes revenues, expenses, gains, and losses that are not included in net income and directly affect shareholders' equity.