Sonar Company Prepared a Draft of Its 2014 Balance Sheet

question 66

Multiple Choice

Sonar Company prepared a draft of its 2014 balance sheet.The draft statement reported total assets of $437,500.Included in this total assets figure were the following items:

At which amount should Sonar' total assets be correctly reported in the December 31,2014,balance sheet?

• A)$420,850
• B)$421,300
• C)$425,050
• D)$425,500

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Definitions:

Organizational Politics

Involves the use of power, influence, and strategic maneuvers within an organization to achieve personal or group goals, often at the expense of others or the organization itself.

Powerful Positions

Roles or titles within an organization or society that come with a significant amount of influence or authority.

Organizational Politics

The use of power and social networking within an organization to achieve changes that benefit the individual or group.

Commitment

The state or quality of being dedicated to a cause, activity, or organization, often reflected in willingness to invest time and resources.