Use the Following Information for Questions 138-139

question 153

Multiple Choice

Use the following information for questions 138-139.
Saira's Service Shop started the year with total assets of $100,000 and total liabilities of $80,000. During the year, the business recorded $210,000 in revenues, $110,000 in expenses, and owner drawings of $20,000.
-Owner's equity at the end of the year was

• A) $120,000.
• B) $100,000.
• C) $80,000.
• D) $90,000.

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Definitions:

Anthropomorphic

The attribution of human traits, emotions, or intentions to non-human entities, such as animals or deities.

Western Conceptions

Ideas, philosophies, and understandings that have their origins or are primarily developed and accepted in the Western world, encompassing views on society, ethics, governance, and more.

Karl Marx

A 19th-century philosopher, economist, and revolutionary socialist known for his critique of capitalism and development of historical materialism.

Opium of the People

A term coined by Karl Marx, referring to religion as something that provides comfort to the oppressed masses with an illusion of happiness, pacifying them and detracting from actual worldly sufferings.