Newland Retailers Accepted $90,000 of Citibank Visa Credit Card Charges

question 235

Multiple Choice

Newland Retailers accepted $90,000 of Citibank Visa credit card charges for merchandise sold on July 1. Citibank charges 4% for its credit card use. The entry to record this transaction by Newland Retailers will include a credit to Sales Revenue of $90,000 and a debit(s) to

• A) Cash $86,400 and Service Charge Expense $3,600.
• B) Accounts Receivable $86,400 and Service Charge Expense $3,600.
• C) Cash $86,400 and Interest Expense $3,600.
• D) Accounts Receivable $90,000.

Recognize the role and characteristics of gatekeepers in organizations.

Distinguish between different types of innovations including open innovation, managerial innovation, and process innovations.

Comprehend the concept and importance of open innovation in contemporary business.

Identify methods to increase creativity and innovation within organizations.

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Definitions:

Act Aggressively

Exhibiting behavior that intends to harm or show dominance over others, either physically or verbally.

Future Aggression

The likelihood or potential for an individual to express aggressive behavior or hostility in future circumstances.

Tension Release

The process of alleviating psychological or physical stress through various means such as relaxation techniques or expression of emotions.

Object Relations Theory

A psychoanalytic theory focusing on the significance of early relationships and their impact on emotional development and future interactions.