The Total Assets and the Total Liabilities of Ty Williams

question 55

Multiple Choice

The total assets and the total liabilities of Ty Williams Financial Services,are shown below.During the year,the proprietor made no additional capital contributions,and took drawings of $15,000. $\begin{array}{|l|r|r|} \hline& \text { Assets } & \text { Liabilities } \\\hline \text { Beginning of year } & \$ 395,000 & \$ 290,000 \\\hline \text { End of year } & 455,000 & 320,000\\\hline\end{array}$ What was the amount of net income for the year?

• A) $85,000
• B) $40,000
• C) $45,000
• D) $135,000

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Definitions:

Job Characteristics Model

A theory that suggests jobs can be designed to enhance employee motivation, satisfaction, and productivity by incorporating five core job dimensions.

Employee Motivation

The intrinsic and extrinsic factors that stimulate workers to take actions that lead to achieving a goal or performing at a high level.

Task Efficiency

The effectiveness and speed with which a task is completed using the least amount of resources.

Work Practices

The set ways of performing work in an organization.