Given the Data Below for a Firm in Its First

question 123

Multiple Choice

Given the data below for a firm in its first year of operation determine net income under the cash basis of accounting. $\begin{array} { l r } \text { Cash received from customers } & \$ 45,000 \\\text { Accounts receivable } & 12,000 \\\text { Cash paid for expenses } & 26,000 \\\text { Accounts payable (related to expenses) } & 3,000 \\\text { Prepaid rent for next period } & 7,000\end{array}$

• A)$19000
• B)$28000
• C)$21000
• D)$12000

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Definitions:

Outstanding

Exceptionally good or noticeable in comparison to others; distinguished beyond the norm.

E-Leadership

A form of leadership practiced in a context where work is mediated by information technology.

Micromanaged

A management style where a manager closely observes or controls the work of their subordinates.

Mediated

In the context of communication or disputes, refers to the involvement of a neutral third party to facilitate discussions and help reach an agreement.