Liz Is a Team Leader at a Local Grocery Store

question 73

Multiple Choice

Liz is a team leader at a local grocery store. Recently, her boss said that she needs to address the negative attitudes of employees. To try and fix this problem, she has begun awarding gift-cards to employees who have great attitudes. What internal leadership intervention is Liz addressing?

• A) Managing conflict
• B) Facilitating decisions
• C) Goal focusing
• D) Satisfying needs

Analyze and interpret the effects of specific transactions on the statement of cash flows.

Differentiate between the indirect and direct methods of reporting cash flows.

Identify the impacts of changes in balance sheet accounts on cash flow.

Recognize the differences between GAAP and IFRS in cash flow reporting.

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Definitions:

Completed-Contract Method

This is an accounting method that recognizes revenues and expenses from a long-term contract only when the contract is completed.

Deferred Tax Liability

A tax obligation that is recorded on the balance sheet but not yet due, arising from temporary differences between the accounting and tax treatment of transactions.

Temporary Differences

Differences between the tax base of an asset or liability and its carrying amount in the financial statements, which will result in taxable or deductible amounts in the future.

Taxable Income

The amount of income used to calculate how much the entity owes in taxes to the federal, state, and/or local government.