Exhibit 2-1 Total Assets Total Liabilities

question 54

Multiple Choice

Exhibit 2-1
Total Assets Total Liabilities
Beginning of the year $300,000 $130,000
End of the year $800,000 $550,000
-Refer to Exhibit 2-1.Determine the net income (or loss) ,assuming $50,000 of stock was issued and no dividends were paid?

• A)$130,000
• B)$30,000
• C)$80,000
• D)$220,000

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Definitions:

Spatial Reasoning

The ability to visualize and manipulate two- and three-dimensional shapes, understanding their positions and relationships in space.

Verbal Fluency

The ability to swiftly produce words in a coherent manner, often tested in psychological assessments to gauge language skills.

Visual Field

the entire area that can be seen without the eye moving, including what is seen centrally and peripherally.

Control Condition

A standard or baseline condition in an experiment against which changes are measured.