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.

Identify the relevant costs for disposing of defective products.

Understand the concept of employment equity and its significance in recruitment, selection, and compensation.

Recognize how employment equity programs may intersect with discrimination and reverse discrimination.

Comprehend the dimensions of diversity and their impact on workplace values, expectations, and behaviors.

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Definitions:

Limited Liability Company

An organizational form that merges the direct taxation benefits of a partnership or sole proprietorship with the limited legal responsibility characteristic of a corporation.

Hedge Funds

Investment funds that employ diverse strategies to earn active returns for their investors, often engaging in more complex trading, portfolio-construction, and risk management techniques than conventional mutual funds.

Aggressive Financial Strategies

Financial tactics that involve higher risk to achieve potential higher returns, often characterized by significant borrowing and rapid growth objectives.

Sophisticated Investors

Individuals or entities with extensive market experience and knowledge, making them capable of making informed investment decisions.