You are in the company cafeteria, and your coworkers begin discussing an interaction between your boss and another colleague. You witnessed the actual encounter, so you know that your coworkers are wrong and that the situation is being discussed in a way that may be hurtful to both your boss and the colleague.
a. Excuse yourself, and go have lunch in your office alone.
b. Participate in the gossip to build better relationships with your coworkers.
c. Correct your coworkers' misconceptions.
Answer: c. Correct your coworkers' misconceptions.
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The direct write-off method is not normally an acceptable method for GAAP because it fails to report:
A. Accounts receivable for the net amount of cash expected to be collected. B. Revenue from the sale of goods or services to customers. C. The amounts receivable from customers. D. Cash collected from customers.
Which of the following is true regarding taxation of losses of a C corporation?
a. The operating loss is passed on to shareholders, but the corporation itself does not realize any benefit. b. The operating loss is recognized at the corporate level, and shareholders also receive a tax benefit. c. The operating loss will be recognized at the corporate level, shareholders receive no tax benefit, and the corporation receives no benefit until it has operating income against which its prior losses can be deducted. d. The operating loss is not recognized at the corporate level; and although shareholders may receive a deduction, they must wait until they receive some amount of profit from the corporation at which point they can deduct up to 10% of the losses per year.
Which of the following may not be a feature of some credit cards?
A) Credit limits B) Annual fees C) Grace periods D) Cash advances
Which of the following is a feature of a correlated subquery?
a. The inner subquery executes first. b. The outer subquery initiates the process of execution in a subquery. c. The inner subquery initiates the process of execution in a subquery. d. The outer subquery executes independent of the inner subquery.