Bell, Clem and May decide to liquidate their partnership. Net income or net loss is shared equally. The account balances are: Cash $4,000; Noncash Assets $44,000; Liabilities $8,000; Capital, Bell $10,000; Capital, Clem $20,000; Capital, May $10,000 . If the noncash assets are sold for $14,000, final cash distribution to Bell will be:
a. $8,000
b. $6,000
c. $0
d. $10,000
e. $14,000
c
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Assume common stock is issued to employees as a result of exercising stock purchase rights issued under a noncompensatory share purchase plan. At what value does the company record that stock in its books?
A) market price of the stock B) exercise price of the stock C) market price of the stock at the first date that the stock purchase right can be exercised D) option price of the stock plus the value assigned to the stock purchase right
What two personality dimensions represent the two levels of concern underlying the five conflict management styles?
A. the degree of assertiveness and the degree of cooperativeness B. the degree of aggressiveness and the degree of cooperativeness C. the degree of aggressiveness and the degree of competitiveness D. the degree of assertiveness and the degree of competitiveness
Cash investments made by the owner to the business are reported on the statement of cash flows in the
A) financing activities section B) investing activities section C) operating activities section D) supplemental statement
Which of the following does not build cohesion?
a. Enlarging the group b. Increasing work and social interaction c. Providing the team with resources d. Providing competition with outside groups