Jimmy's Repair Shop Started the Year with Total Assets of $300,000

question 144

Multiple Choice

Jimmy's Repair Shop started the year with total assets of $300,000 and total liabilities of $240,000.During the year, the business recorded $630,000 in revenues, $330,000 in expenses, and dividends of $60,000.The net income reported by Jimmy's Repair Shop for the year was

• A)$240,000.
• B)$300,000.
• C)$180,000.
• D)$570,000.

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Definitions:

Heart Disease

A broad category of diseases that affect the heart's structure and function, leading to a range of health complications.

High-Fat Foods

Foods that are rich in fats, often contributing to increased risk of obesity and heart disease when consumed in excess.

Cardiac Reactivity

The cardiovascular system's response to stress, including changes in heart rate, blood pressure, and vascular resistance.

Expression

The process by which information from a gene is used to synthesize a functional gene product, often a protein.