The Total Assets and the Total Liabilities of Samantha Financial

question 49

Multiple Choice

The total assets and the total liabilities of Samantha Financial Services are shown below.There were no capital contributions and withdrawals during the year. $$\begin{array} { | l | l | r | } \hline & \text { Assets } & \text { Liabilities } \\\hline \text { Beginning of year } & \$ 405,000 & \$ 275,000 \\\hline \text { End of year } & 445,000 & 305,000 \\\hline\end{array}$$ What was the amount of profit for the year?

• A)$30,000
• B)$70,000
• C)$40,000
• D)$10,000

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Definitions:

High Standards

Expectations or criteria that are significantly above the typical or average level, often challenging to meet or achieve.

Negative Beliefs

Thoughts or convictions that are pessimistic or unhelpful, often contributing to negative outcomes or mental health issues.

Rational-emotive Therapy

Rational-emotive therapy is a form of psychotherapy that identifies irrational beliefs, challenges them, and encourages the development of more rational thought patterns to promote emotional well-being.

Cognitive Therapist

A mental health professional specializing in cognitive therapy, focusing on identifying and changing negative thoughts and behaviors.