Taj Operates a Sole Proprietorship, Maintaining the Business Records Under

question 1310

Multiple Choice

Taj operates a sole proprietorship, maintaining the business records under the cash- basis method of accounting. Taj performs services for a client and sends the client a bill for $12,000. Six months later, before payment is received by Taj, the client files bankruptcy, with no assets available for unsecured creditors such as Taj. Taj will deduct

• A) $0.
• B) $3,000 long- term capital loss.
• C) $3,000 short- term capital loss.
• D) $12,000 ordinary loss.

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Definitions:

Achievement Of Organizational Goals

The successful fulfillment or reaching of objectives set by an organization through collective efforts and strategies.

Political Behavior

Actions by individuals or groups within an organization that are aimed at influencing the distribution of advantages and disadvantages.

Organizational Politics

The use of power and social networking within an organization to achieve changes that benefit the individual or the organization.

Coercive Power

a form of power that is based on the ability to deliver punishments or impose penalties for noncompliance with expectations or directives.