The Net Income of Edwards Corporation Amounted to $75,000 for This

question 51

Multiple Choice

The net income of Edwards Corporation amounted to $75,000 for this year.The beginning balance of owner's equity was $30,000 and the ending balance was $72,000.The company received no new contributions during the year.What was the amount of the owner's withdrawals during the year?

• A)$72,000
• B)$33,000
• C)$147,000
• D)$30,000

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Definitions:

Defense

Psychological mechanisms or strategies employed by individuals to protect themselves from perceived threats or to manage uncomfortable emotions.

Distortion

The alteration of the original shape or other characteristics of something, often in a way that misrepresents or changes meaning or perception.

Rogers

Refers to Carl Rogers, a prominent figure in psychology known for his contributions to humanistic psychology and the client-centered therapy approach.

Fully Functioning

A state described by Carl Rogers where an individual is living at their fullest potential, open to experience, and in harmony with their inner feelings and desires.