Foxes Service Shop Started the Year with Total Assets of $320000

question 156

Multiple Choice

Foxes Service Shop started the year with total assets of $320000 and total liabilities of $240000. During the year the business recorded $630000 in revenues $450000 in expenses and owner drawings of $60000. The net income reported by Foxes Service Shop for the year was

• A) $140000.
• B) $180000.
• C) $200000.
• D) $270000.

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Definitions:

Performance Goals

Objectives set to measure the effectiveness and efficiency of an individual's or organization's work output.

Behavioral Goals

Set objectives focusing on specific and observable actions individuals aim to perform or modify.

Implementation Goals

Objectives that focus on the execution of plans or strategies, aiming at achieving specific outcomes.

Work Very Hard

Exerting a high level of effort and dedication toward achieving goals or completing tasks.