Knoell Company paid its sales employees $15,000 in sales commissions. What impact will this transaction have on the firm's working capital?
A. Decrease it
B. No impact
C. Increase it
D. Not enough information is provided to answer the question.
Answer: A
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Which of the following is a noncash investing and financing activity?
a. payment of a cash dividend b. payment of a six-month note payable c. purchase of merchandise inventory on account d. issuance of common stock to acquire land
In order to classify cash as a current asset, it must be free from any restrictions that would prevent its deposit or use to pay creditors classified as long-term
Indicate whether the statement is true or false
Which of the following is true of a trade acceptance?
A) The buyer is the payee. B) The seller is both the drawer and payee. C) The draft is countersigned by the drawee's bank. D) The draft is only as good as the drawer's creditworthiness.
The “dark side” of leadership presented in the ethics chapter of the text is closely related to which component of transformational leadership?
A. transactional B. individualized consideration C. pseudotransformational D. management by exception-passive