The total assets and the total liabilities of a business at the beginning and at the end of the year appear below. During the year, the owner had withdrawn $55,000 for personal use and had made an additional investment of $33,000 in the business.
Calculate the net income for the year.
Definitions:
Conditioned Response
A learned response to a previously neutral stimulus that has become associated with a conditioned stimulus.
Unwanted Response
A behavior or reaction that is undesired or negative, often leading to adverse outcomes or consequences.
Stimulus Discrimination
The ability to distinguish between different stimuli, often used in behavioral psychology to describe how organisms learn to respond differently to various signals.
Higher-order Conditioning
A form of learning in which a stimulus is paired with a previously conditioned stimulus, creating a new conditioned response.
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