Use the Following Information for the Following Questions

question 60

Multiple Choice

Use the following information for the following questions:
The tax rate for all items is 30%.
1. Depreciation for 2019 was found to be understated by $30,000.
2. A 2020 strike by the employees of a supplier resulted in a loss of $20,000.
3. The inventory at December 31, 2018 was overstated by $40,000.
4. A 2020 flood destroyed a building that had a book value of $400,000. Floods are very uncommon in that area.
-The effect of these events and transactions on 2020 income from continuing operations net of tax would be

• A) $14,000.
• B) $35,000.
• C) $63,000.
• D) $294,000.

---

Definitions:

Networking

Building and maintaining relationships with people who can provide information, advice, and opportunities as one develops professionally or personally.

Organizational Politics

Activities carried out within an organization to acquire, develop, and use power and other resources to obtain one's preferred outcomes in a situation where there is uncertainty or disagreement.

Intentional Damaging

involves deliberate actions taken to harm or degrade an object, person, or reputation.

Self-Esteem

An individual's subjective evaluation of their own worth, encompassing beliefs about oneself as well as emotional states such as triumph, despair, pride, and shame.