Chyna Corporation Has the Following Income Statement for the Year

question 6

Multiple Choice

Chyna Corporation has the following income statement for the year ended December 31, 2012: Given this information, if ending inventory was $10,000 instead of $12,000, net income would be

• A) $18,000
• B) $22,000
• C) $20,000
• D) None of these

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Definitions:

Learning Processes

The methods or activities by which individuals acquire new information or skills, involving cognitive, emotional, and environmental influences as well as experiences.

Cognitive Functioning

Refers to an individual's ability to think, reason, remember, and process information.

Staff

The collective group of employees or personnel working for an organization, institution, or a specific project.

Day Care Center

A place where children from infancy through childhood are cared for outside of their home during the day, often including educational and social activities.