Luis Consulting Started the Year with Total Assets of $60000

question 74

Multiple Choice

Luis Consulting started the year with total assets of $60000 and total liabilities of $17000. During the year the business recorded $48000 in consulting revenues and $36000 in expenses. Luis made an additional investment of $8000 and withdrew cash of $9000 during the year. The owner's equity at the end of the year was

• A) $33000.
• B) $54000.
• C) $57000.
• D) $63000.

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Definitions:

Likert Scales

A psychometric scale commonly involved in research that employs questionnaires, used for assessing attitudes or opinions by allowing respondents to rate their level of agreement.

Connotative Meanings

The emotional or cultural associations attached to words beyond their literal definitions, influencing perception and interpretation.

Interview Surveys

A research method involving the structured questioning of individuals to gather qualitative and quantitative data.

Response Rates

The percentage of people who reply to a survey or query out of the total number of people who were asked.