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:

Leader-Member Exchange Theory

A concept in leadership research that focuses on the relationship between leaders and their followers, impacting various workplace outcomes.

Team Members

Individuals who are part of a group working together towards a common goal, each contributing with their specific skills and roles.

Special Relationships

Connections between individuals or entities that go beyond the ordinary, often characterized by trust, mutual respect, and shared interests or goals.

Achievement-Oriented Leadership

A leadership style focused on setting challenging goals, emphasizing excellence, and striving for higher performance levels.