Wang Company Had the Following Transactions During 2013

question 189

Multiple Choice

Wang Company had the following transactions during 2013:
-Sales of $10,800 on account
-Collected $4,800 for services to be performed in 2014
-Paid $3,100 cash in salaries for 2013
-Purchased airline tickets for $600 in December for a trip to take place in 2014
What is Wang's 2013 net income using accrual accounting?

• A) $8,300
• B) $13,100
• C) $12,500
• D) $7,700

---

Definitions:

Bandura

Refers to Albert Bandura, a psychologist known for his work on social learning theory, emphasizing the role of observational learning, imitation, and modeling in behavior.

Confidence

The feeling of self-assurance arising from one's appreciation of their own abilities or qualities.

Operant Conditioning

A training technique in which a behavior's force is changed using either positive reinforcement or negative consequences.

Behaviour Control

The management practice of regulating employees' actions through policies, procedures, and surveillance to align with organizational goals.