The Smith Corp

question 109

Multiple Choice

The Smith Corp.began business this year and entered into the following transactions during the year.The company issued common stock in exchange for cash of $20,000 from stockholders,borrowed $10,000 from a bank,bought $3,000 of inventory on account,and purchased $8,000 of equipment by paying $3,000 in cash and issuing a note for the remainder.What is the amount of total assets to be reported on the balance sheet at the end of the year?

• A) $26,000
• B) $30,000
• C) $32,000
• D) $38,000

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Definitions:

Typological Approach

The research strategy that focuses on identifying types of individuals. Each type is characterized by a particular pattern of traits.

Private Self-consciousness

An individual’s tendency to introspect and examine their own inner thoughts and feelings.

Public Self-consciousness

An awareness of how one is viewed by others, leading to heightened sensitivity about one's appearance and actions in social contexts.

High Self-monitor

An individual who is keenly aware of social cues and adjusts their behavior accordingly in varying social situations to achieve social acceptability.