During August 2020, Shelby's Supply Store Generated Net Sales of $65,000

question 27

Multiple Choice

During August 2020, Shelby's Supply Store generated net sales of $65,000. The company's expenses were as follows: cost of goods sold of $33,000 and operating expenses of $7,000. The company also had rent revenue of $2,000 and a loss on disposal of plant assets of $3,000. Shelby's nonoperating income (loss) for the month of August 2020 is

• A) $0.
• B) $(3,000).
• C) $2,000.
• D) $(1,000).

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Definitions:

Alfred Adler

An Austrian psychiatrist and founder of Adlerian psychology, emphasizing the importance of the feeling of inferiority in the development of personality.

Oedipal Complex

A Freudian theory in psychoanalytic psychology that a child, typically around the age of three to five, experiences a desire for the opposite-sex parent and hostility toward the same-sex parent.

Phallic Complex

A Freudian theory phase of childhood development characterized by attachment to the parent of the opposite sex and jealousy toward the same-sex parent.

Defence Mechanisms

Psychological strategies used unconsciously to protect oneself from anxiety and to cope with reality.