Blair Scott Started a Sole Proprietorship by Depositing $75,000 Cash

question 23

Multiple Choice

Blair Scott started a sole proprietorship by depositing $75,000 cash in a business checking account.During the accounting period,the business borrowed $30,000 from a bank,earned $18,000 of net income,and Scott withdrew $12,000 cash from the business.Based on this information,what is the balance in Scott's capital account at the end of the accounting period?

• A)$93,000
• B)$111,000
• C)$72,000
• D)$81,000

Identify and understand the fallacy of division.

Recognize when an appeal to emotion (pity) is irrelevant to an argument.

Understand the importance of precise language to avoid verbal disputes.

Identify and understand the fallacy of amphiboly.

---

Definitions:

Formal Operational Thought

A stage in Piaget's theory of cognitive development where individuals develop the ability to think about abstract concepts.

Piaget's Model

A theory of cognitive development outlining how children progress through a series of four stages of cognitive growth: sensorimotor, preoperational, concrete operational, and formal operational.

Logical Reply

A response that follows the principles of logic or reasoning.

Underestimated

To be underestimated refers to the misjudgment of someone's capabilities, qualities, or results to be lower or less important than they actually are.