Below Is Accounting Information for Cascade Company for 2013,its First

question 36

Multiple Choice

Below is accounting information for Cascade Company for 2013,its first year of
Business
$$\begin{array} { | l | r | } \hline \text { Revenue } & \$ 416,000 \\\hline \text { Cash } & \$ 120,000 \\\hline \text { Common stock } & \$ 200,000 \\\hline \text { Expenses } & \$ 300,000 \\\hline \text { Equipment } & \$ 240,000 \\\hline \text { Accounts receivable } & \$ 35,000 \\\hline \text { Notes payable } & \$ 50,000 \\\hline \text { Notes receivable } & \$ 62,000 \\\hline\end{array}$$

What was total equity at year end?

• A) $320,000
• B) $296,000
• C) $316,000
• D) $457,000
• E) $116,000

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Definitions:

Attitude Inoculation

A psychological technique that strengthens an individual's attitudes or beliefs by exposing them to small doses of counterarguments, thereby making them more resistant to future challenges or attacks.

Counterarguments

Arguments presented in opposition to another argument, offering a different perspective or rebuttal.

Primacy Effect

The tendency to remember information that is presented first better than information that is presented later.

Persuasion

The process of influencing someone's beliefs, attitudes, intentions, motivations, or behaviors through argument, reasoning, or appeal.