Use the Following Information for Questions 127-129

question 163

Multiple Choice

Use the following information for questions 127-129.
Carla's Computer Repair Shop started the year with total assets of $270,000 and total liabilities of $180,000. During the year, the business recorded $450,000 in computer repair revenues, $255,000 in expenses, and Carla withdrew $45,000.
-The net income reported by Carla's Computer Repair Shop for the year was

• A) $150,000.
• B) $195,000.
• C) $90,000.
• D) $405,000.

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Definitions:

Diagnosis

The identification of the nature and cause of something, often relating to illness or medical conditions, through examination of the symptoms.

Compulsion

A strong, usually irresistible impulse to perform an act, especially one that is irrational or contrary to one's will.

Obsession

A persistent, unwanted, and intrusive thought or urge that causes significant anxiety or distress.

Phobia

An extreme or irrational fear or aversion to a particular object, situation, or activity, significantly impacting an individual's life.