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The Total Assets and the Total Liabilities of Samantha Financial

question 132

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. The total assets and the total liabilities of Samantha Financial Services, are shown below. There were no capital contributions and withdrawals during the year.   What was the amount of net income for the year? A) $75,000 B) $45,000 C) $30,000 D) $120,000 What was the amount of net income for the year?


Definitions:

Proportion

Another way of saying fraction.

Extremes

The highest or lowest level of a math function on an interval.

Proportion

A part or share of a whole, often expressed as a ratio or fraction, indicating the relationship in size or amount between parts.

Means

The average that is derived by adding up all the values of a given series and dividing by the number of values.

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