Peter Has the Following Assets at Various Dates

question 24

Multiple Choice

Peter has the following assets at various dates. He has no liabilities and earned no other income over this two-year period. Which of these statements is correct?

• A) Peter's wealth increased by $10 000 over this two-year period.
• B) Peter's profit was $3000 for the year ended 31 December Year 3.
• C) Peter's wealth was $134 000 at 31 December Year 3.
• D) Peter's loss was $8000 for the year ended 31 December Year 2.

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Definitions:

Injury

Physical harm or damage to the body caused by an external force, which can result in pain and dysfunction.

Unusual Noise

Sounds that are out of the ordinary or unexpected in a particular setting, often indicating a problem or condition that requires attention.

Feeling Inside

The internal emotional state or sensation experienced by an individual, often influenced by thoughts and external events.

Audiometric Assessment

A series of tests conducted to evaluate an individual's hearing capabilities, determining the extent of hearing loss.