Dynamic Production Services Started the Year with Total Assets of $120,000

question 140

Multiple Choice

Dynamic Production Services started the year with total assets of $120,000 and total liabilities of $55,000. The revenues and the expenses for the year amounted to $100,000 and $80,000, respectively. During the year, the company did not issue any common stock, but it distributed dividends of $50,000. Calculate Dynamic's net income for the year.

• A) $20,000
• B) $100,000
• C) $80,000
• D) $120,000

Identify instances and reasons for wage disparities.

Comprehend the role of unions in employee wages and conditions.

Recognize the concept of efficiency wages and their purpose.

Identify factors leading to wage disparities due to differences in human capital, talent, and ability.

---

Definitions:

Discrete Quantitative Variables

Variables that represent countable quantities and can take on a finite number of distinct values.

Elementary Units

The simplest, indivisible entities which a data set or a statistical analysis is concerned with.

Finite Result

An outcome or solution that is fixed and definitive, with limitations in terms of size, number, or extent.

Discrete Variable

A variable that can take on a countable number of distinct values and cannot take on every value within its range.