Maize Corporation Had $200,000 Operating Income and $90,000 Operating Expenses

question 15

Multiple Choice

Maize Corporation had $200,000 operating income and $90,000 operating expenses during the year.In addition,Maize had a $25,000 long-term capital gain and a $16,000 short-term capital loss.Compute Maize's taxable income for the year.

• A)$91,000.
• B)$94,000.
• C)$110,000.
• D)$119,000.
• E)None of the above.

---

Definitions:

Concrete Operations

A stage in Piaget's theory of cognitive development where children begin to think logically about concrete events.

Preoperational

A stage in Piaget's theory of cognitive development where children from about 2 to 7 years think symbolically but are not yet logical.

Piaget

Jean Piaget was a Swiss psychologist known for his pioneering work in child development, particularly his theory of cognitive development that describes how children construct a mental model of the world.

Formal Operations

The stage in Piaget's theory of cognitive development where individuals are able to think abstractly and reason logically.