Abbie Marson Is the Sole Owner and Operator of Great

question 34

Multiple Choice

Abbie Marson is the sole owner and operator of Great Plains Company. As of the end of its accounting period, December 31, Year 1, Great Plains Company has assets of $940,000 and liabilities of $300,000. During Year 2, Marson invested an additional $73,000 and withdrew $33,000 from the business. What is the amount of net income during Year 2, assuming that as of December 31, Year 2, assets were $995,000 and liabilities were $270,000?

• A) $45,000
• B) $50,000
• C) $106,000
• D) $370,000

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Definitions:

Men's Speech

The distinct linguistic styles, patterns, and behaviors associated with male communication, often studied in sociolinguistics and gender studies.

Accommodation

The process of adjusting or adapting one's schemas (mental models) in response to new experiences, as described in Piaget's theory of cognitive development.

Effective Communication

The process by which individuals exchange information clearly and efficiently, ensuring the message is understood as intended.

Women's Speech

The distinctive ways in which women communicate, which may differ culturally and socially, and are often studied in linguistics and gender studies.