The Following Is Selected Information from Alpha-Beta-Gamma Corporation for the Fiscal

question 38

Multiple Choice

The following is selected information from Alpha-Beta-Gamma Corporation for the fiscal year ending October 31, 2011. $\begin{array}{lr}\text { Cash received from customers } & \$ 300,000 \\\text { Revenue earned } & 350,000 \\\text { Cash paid for expenses } & 170,000 \\\text { Cash paid for computers on November 1, 2010 that will be used } & \\\quad \text { for 3 years (annual depreciation is } \$ 16,000 \text { ) } & 48,000 \\\text { Expenses incurred, not including any depreciation } & 200,000\\\text { Proceeds from a bank loan, part of which was used to pay for }\\\text { the computers }&100,000\end{array}$ Based on the accrual basis of accounting, what is Alpha-Beta-Gamma Corporation's net income for the year ending October 31, 2011?

• A)$114,000.
• B)$134,000.
• C)$82,000.
• D)$150,000.

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Definitions:

Health Care

The organized provision of medical services to individuals or communities for the purpose of promoting, maintaining, monitoring, or restoring health.

Work Schedules

The allotted times and periods assigned for work activities and tasks.

Night Shifts

Night shifts are work periods scheduled during the nighttime, often requiring employees to work through the late hours until the morning.

Job Rotation

A human resources strategy that involves periodically moving employees among varied jobs to enhance skills and motivation.