______ transactional leaders wait for problems to arise before taking action, or they avoid taking any action at all.
A. Passive
B. Active
C. Engaged
D. Open
B. Active
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Which of the following events does not require a journal entry?
a. Purchase of a one-year insurance policy b. Agreement to perform a service at a future date c. Performance of a service agreed to at a past date d. Payment for a service performed previously
______ is an exchange of information.
A. Telephony B. Marketing C. Production D. Communication
The hours of use of a swimming pool can be changed during the term of a lease that incorporates, by reference, a set of_________
Fill in the blank(s) with correct word
Golden Enterprises started the year with the following: Assets $113,000; Liabilities $39,500; Common Stock $69,500; Retained Earnings $4000. During the year, the company earned revenue of $6000, all of which was received in cash, and incurred expenses of $3500, all of which were unpaid as of the end of the year. In addition, the company paid dividends of $2000 to owners. Assume no other activities occurred during the year. What was the amount of Golden's net income for the year?
A. $3500 B. $2500 C. $6000 D. $2000