Johnson, Inc

question 10

Multiple Choice

Johnson, Inc. has just ended the calendar year making a sale in the amount of $10,000 of merchandise purchased during the year at a total cost of $7,000. Although the firm paid in full for the merchandise during the year, it is yet to collect at year end from the customer. The net profit and cash flow from this sale for the year are ________.

• A) $3,000 and $10,000, respectively
• B) $3,000 and -$7,000, respectively
• C) $7,000 and -$3,000, respectively
• D) $3,000 and $7,000, respectively

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Definitions:

Referent Power

The ability to influence others based on their admiration, respect, or desire to identify with the person possessing this power.

Positional Power

The authority and power vested in an individual’s role or position within an organization's hierarchy.

Knowledgeable

Having or showing understanding, awareness, or familiarity with facts, information, or skills through experience or education.

Leadership And Power

The relationship between the ability to influence others and the capacity to use this influence to direct and motivate their actions towards achieving goals.