At September 1, 2021, Promise Ring Co

question 9

Multiple Choice

At September 1, 2021, Promise Ring Co.reported stockholders' equity of $156,000. During the month, Promise Ring generated revenues of $38,000, incurred expenses of
$21,000, purchased equipment for $5,000 and paid dividends of $2,000.What is the amount of stockholders' equity at September 30, 2021?

• A)$166,000
• B)$171,000
• C)$173,000
• D)$176,000

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Definitions:

Method of Concomitant Variations

A research method where one observes the effects of the deliberate variation of one factor on a phenomenon to identify causation.

Necessary Condition

A necessary condition is a condition that must be present for an event or state of affairs to occur; without it, the event or state cannot exist.

Sufficient Condition

A condition or set of conditions that, if satisfied, ensures that a certain statement or outcome must be true.

Method of Concomitant Variations

A scientific principle stating that if two variables vary together in a consistent manner, then one may be a cause of the other.