The Following Is Selected Information from C Corporation for the Fiscal

question 112

Multiple Choice

The following is selected information from C Corporation for the fiscal year ending October 31, 2014. Based on the accrual basis of accounting, what is C Corporation's net income for the year ending October 31, 2014?

• A) $102,000
• B) $86,000
• C) $76,000
• D) $110,000

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Definitions:

Convergent Thinking

A cognitive process involving the focusing on a finite number of solutions or answers to a specific problem, often associated with logical and analytical thinking.

Temporal and Parietal Lobes

Brain regions responsible for processing auditory information and spatial navigation, respectively.

Frontal Lobe

The part of the brain associated with decision making, problem solving, control of purposeful behaviors, consciousness, and emotions.

Intelligence A

Hebb’s term for innate intellectual potential, which is highly heritable and cannot be measured directly.