When a small business owner pays a commission in addition to a basic salary, it is called ________.
A. a bonus
B. profit sharing
C. hybrid compensation
D. a salary
Answer: C
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Alfredo Inc. reports net income of $230,000 for the year ended December 31. It also reports $87,700 depreciation expense and a $5,000 gain on the sale of equipment. Its comparative balance sheet reveals a $35,500 decrease in accounts receivable, a $15,750 increase in accounts payable, and a $12,500 decrease in wages payable. Calculate the cash provided (used) in operating activities using the indirect method.
A. $356,450. B. $319,950. C. $351,450. D. $376,450. E. $263,750.
Which of the following is not an example of an external user of accounting information?
A) Potential and existing stockholders B) Government taxing agencies C) Potential and existing creditors D) Management
Orlando opened a hot dog stand in Brooklyn which unfortunately did not earn him a profit. He had borrowed $5,000 from the bank to set it up, which had to be repaid to the bank in two days
However, Orlando's friend Bob agreed to partner with him starting the subsequent month. From which of the following sources can the bank recover its $5,000 with interest? A) Orlando's secondary financer B) Orlando's savings account C) Orlando's family D) Bob, Orlando's prospective business partner
The first step in a planning approach is to create specific sub-goals that help us achieve a major broad goal
Indicate whether the statement is true or false.