Vista Camera Services Started the Year with Total Assets of $80,000

question 8

Multiple Choice

Vista Camera Services started the year with total assets of $80,000 and total liabilities of $40,000.The revenues and the expenses for the year amounted to $120,000 and $70,000,respectively.During the year,the company did not issue any common stock,but it distributed dividends of $60,000.
-Calculate Vista's net income for the year.

• A)$50,000
• B)$120,000
• C)$70,000
• D)$80,000

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Definitions:

Discrimination

Unfair or prejudicial treatment of individuals or groups based on characteristics such as race, gender, age, or sexual orientation, rather than individual merit.

Imperial Power

The authority or dominion of an empire or nation over foreign countries, characterized by the extension of sovereignty and control.

Imperialism

A policy of extending a country's power and influence through diplomacy or military force over other nations or territories.

Semiskilled Workers

Employees who have acquired a minimal level of specialized skills and training to perform specific tasks or jobs.