MGC IncReported $50,000 of Net Income for 20x2

question 138

Multiple Choice

MGC Inc.reported $50,000 of net income for 20x2.The following deferrals and accruals were not recorded in the 20x1 and 20x2 adjusting entries: MGC's correct 20x2 income was:

• A)$51,300
• B)$49,300
• C)$48,500
• D)$50,500

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Definitions:

Social Barriers

Obstacles that prevent individuals or groups from interacting or accessing resources due to societal norms, prejudices, or practices.

Hawthorne Plant

A reference to the site of an influential set of studies in the early 20th century in the Hawthorne Works, a factory of the Western Electric Company, which highlighted the impact of work conditions on employee productivity.

Human Relations School

An approach to management and organizational theory that emphasizes the importance of human needs in the workplace and the key role of social interactions in employee satisfaction and productivity.