The Company's Activities for the Year Ended December 31, 2021

question 60

Multiple Choice

The Company's activities for the year ended December 31, 2021 included the following: • Income tax expense for the year was $30,000.
• Sales for the year were $650,000.
• Accounts payable decreased $10,000 in 2021.
• Selling and administration expenses for the year totaled $200,000.
• Accounts receivable increased $20,000 in 2021.
• The Company's cost of goods sold in 2021 was $325,000.
• The Company's inventory decreased $15,000 during the year.
What is the cash receipts from customers under the direct method?

• A)$110,000
• B)$320,000
• C)$670,000
• D)$630,000

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Definitions:

Leadership

The act of guiding or directing a group towards a goal, often involving motivating and influencing others.

Gender Stereotypes

Preconceived ideas about the attributes, behaviors, and roles of men and women.

Participative Style

A leadership approach that involves employees in decision-making processes, typically leading to increased job satisfaction and team morale.

Leadership Prototypes

The preconceived ideas or models of what constitutes effective leadership qualities or behaviors in a specific cultural or organizational context.