Ashley's Accessory Shop Started the Year with Total Assets of $210,000

question 54

Multiple Choice

Ashley's Accessory Shop started the year with total assets of $210,000 and total liabilities of $120,000. During the year the business recorded $330,000 in revenues, $165,000 in expenses, and dividends of $60,000. The net income reported by Ashley's Accessory Shop for the year was

• A)$120,000.
• B)$150,000.
• C)$195,000.
• D)$165,000.

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Definitions:

Clinical Expertise

The advanced judgment and skill acquired by a health professional through education and experience.

Business Sense

The ability to understand and make good judgments in the context of business, such as financial management, marketing, and strategic planning.

Leadership Skills

A set of abilities that enable an individual to guide, direct, or influence the work of others effectively.

Good Followers

Individuals who actively support and follow the guidance and direction of a leader while contributing positively to the achievement of a group's goals.