The Balance of Owner's Equity at the Beginning of the Year

question 89

Multiple Choice

The balance of owner's equity at the beginning of the year and the end of the year was $40,000 and $63,000,respectively.The company received no new contributions during the year.Owner's withdrawals were $20,000.What was the net income or loss for the year?

• A)net income of $83,000
• B)net loss of $83,000
• C)net loss of $43,000
• D)net income of $43,000

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Definitions:

Sensitive Periods

Specific times during early development when the brain is particularly receptive to learning certain skills or knowledge.

Genetic Susceptibility

The increased likelihood of developing a particular disease based on a person's genetic makeup.

Motor Development

Refers to the progression of muscle coordination, strength, and the ability to move and control physical actions.

Social Environment

The immediate physical and social setting in which people live or in which something happens or develops.