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:

Replication

The process of duplicating an experiment or study's procedure to verify its results and ensure its reliability and validity.

Laboratory Experiment

A research method in which variables are controlled and manipulated in a lab setting to observe their effect on other variables, allowing for high levels of control and precision.

Quantitative Research

A research method focused on obtaining data through measurable, numerical information and statistical analysis to understand patterns and relationships.

Measurable Data

Quantifiable information that can be objectively measured and analyzed to draw conclusions or make decisions.