Use the Following Information for Questions 138-139

question 102

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.
-The net income reported by Saira's Service Shop for the year was

• A) $80,000.
• B) $100,000.
• C) $60,000.
• D) $190,000.

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Definitions:

Promotions

The act of advancing someone to a higher position or rank, often as recognition for their performance.

Job Evaluations

A systematic process to determine the relative worth of jobs within an organization, often used to establish fair compensation.

Superior

Refers to something that is above average in quality or performance; often used to describe a higher rank or excellence.

Inferior

Describing something of lower quality, value, or importance in comparison to another.