A Company Had Total Assets of $650,000 and Total Shareholders

question 78

Multiple Choice

A company had total assets of $650,000 and total shareholders' equity of $250,000 at the beginning of the year.During the year,total assets increased by $350,000,total liabilities increased by $100,000,and dividends were paid in the amount of $300,000.No other transactions occurred except revenues and expenses.How much is net income for the year?

• A) $500,000
• B) $550,000
• C) $650,000
• D) $750,000

---

Definitions:

Fundamental Rights

Basic human freedoms and protections that are guaranteed by the constitution or recognized universally, such as freedom of speech and right to equality.

Human Resource Specialists

Professionals focused on managing and implementing policies related to the workforce of an organization, including recruitment, training, and compliance with labor laws.

Reverse Discrimination

Discrimination against members of a dominant or majority group, often as an unintended consequence of policies designed to correct historical discrimination.

Human Rights Act

Legislation that protects individuals against discrimination and ensures equality before the law in various aspects of public life.