The Following Items Are Taken from the Financial Statements of the Postal

question 75

Multiple Choice

The following items are taken from the financial statements of the Postal Service for the year ending December 31, 2018: $\begin{array}{lr}\text { Accounts payable } & 18,000 \\\text { Accounts receivable } & 11,000 \\\text { Accumulated depreciation - equipment } & 28,000 \\\text { Advertising expense } & 21,000 \\\text { Cash } & 15,000 \\\text { Common stock } & 42,000 \\\text { Dividends } & 14,000 \\\text { Depreciation expense } & 12,000 \\\text { Insurance expense } & 3,000\\\text { Note payable, due } 6 / 30 / 19 & 70,000 \\\text { Prepaid insurance (12-month policy) } & 6,000 \\\text { Rent expense } & 17,000 \\\text { Retained earnings (1/1/18) } & 60,000 \\\text { Salaries and wages expense } & 32,000 \\\text { Service revenue } & 133,000 \\\text { Supplies } & 4,000 \\\text { Supplies expense } & 6,000 \\\text { Equipment } & 210,000\end{array}$ What are total current assets at December 31, 2018?

• A) $26,000
• B) $32,000
• C) $36,000
• D) $42,000

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Definitions:

Transfer

The process of moving employees, resources, or assets from one position, location, or job to another within an organization.

Voluntary Early Retirement

An option offered by employers allowing employees to retire earlier than the traditional retirement age, often with specific benefits.

Recruiting

The process of identifying, attracting, and selecting suitable candidates for jobs within an organization.

Selecting New Employees

The process of evaluating and choosing candidates for a job position based on their qualifications, experience, and fit with the company culture.