Blair Scott Started a Sole Proprietorship by Depositing $75,000 Cash

question 23

Multiple Choice

Blair Scott started a sole proprietorship by depositing $75,000 cash in a business checking account.During the accounting period,the business borrowed $30,000 from a bank,earned $18,000 of net income,and Scott withdrew $12,000 cash from the business.Based on this information,what is the balance in Scott's capital account at the end of the accounting period?

• A)$93,000
• B)$111,000
• C)$72,000
• D)$81,000

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Definitions:

Functionalist Perspective

A perspective in sociology that sees society as an intricate system where its components function collaboratively to maintain unity and stability.

Conflict Perspective

A sociological approach that views social life as a competition and focuses on the distribution of resources, power, and inequality within a society.

Symbolic Interaction

A theoretical framework in sociology that emphasizes the role of symbols and language as core elements of all human interaction.

Human Capital Theory

An economic perspective that views individuals' skills, knowledge, and experience as valuable assets to an economy.