A New Corporation Ended Its First Year of Operations with Assets

question 50

Multiple Choice

A new corporation ended its first year of operations with assets of $100,000, liabilities of $75,000, and contributed capital common shares) of $10,000. What was thecorporation's profit for the year?

• A) $25,000.
• B) $75,000.
• C) $65,000.
• D) $90,000.
• E) $15,000.

---

Definitions:

Gender-neutral Pronoun

A pronoun not specifically associated with a particular gender, used to refer to people in a way that does not indicate gender, such as "they/them."

Gender-neutral Term

Language usage that avoids bias towards any gender, aiming for fairness in addressing or referring to people.

Workwoman

A female worker, especially one who is skilled in a particular craft or trade.

Advocacy Approach

A strategy undertaken by a lawyer or legal representative to actively support and argue for their client's case or cause.