Some ERP vendors have focused their products on specific IT platforms

Scott's Camera Shop started the year with total assets of $80,000 and total liabilities of $40,000. During the year, the business earned revenues of $120,000 and incurred expenses of $70,000. Scott made no capital contributions during the year, but did make withdrawals of $60,000. What is the amount of Scott's net income for the year?

A) $50,000 B) $10,000 C) $30,000 D) $40,000

The mode is used to estimate the average when the data have been collected using an interval or ratio scale

Indicate whether the statement is true or false