Use the Following Information for Questions

question 152

Multiple Choice

Use the following information for questions
Saira's Service Shop started the year with total assets of $150,000 and total liabilities of $120,000.During the year, the business recorded $315,000 in revenues, $165,000 in expenses, and paid dividends of $30,000.
-The net income reported by Saira's Service Shop for the year was

• A)$120,000.
• B)$150,000.
• C)$90,000.
• D)$285,000.

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Definitions:

Constrained Resource

A limited resource in a production or project management environment that can restrict output or throughput.

Current Profitability

A measure of a company's financial performance in the short term, often evaluating the income it generates over a recent period against the expenses.

Intermediate Products

Goods that are produced in one manufacturing process but are used as inputs in another, not yet final products.

Common Input

A resource, such as raw materials or labor, that is shared among different processes or production lines within manufacturing or service delivery.