Use This Balance Sheet and Income Statement for the First

question 93

Multiple Choice

Use this balance sheet and income statement for the first year of operations for Layton Novelties to answer the following question. Use ending balances whenever average balances are required for computing ratios. The total amount of working capital for Layton Novelties is

• A) $8,000.
• B) $28,000.
• C) $12,000.
• D) $4,000.

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Definitions:

Self-Perception Theory

Bem’s idea that we gain knowledge of ourselves only by making self-attributions; for example, we infer our own attitudes from our own behaviour.

Own Behaviour

Refers to an individual's actions or conduct, often considered in the context of how it is influenced by or affects social interactions.

Evaluative Link

Evaluative link refers to the cognitive and emotional connection made between various concepts, objects, or entities, determining how favorably or unfavorably they are viewed.

Situational Cues

Environmental signals that influence an individual's behavior in a particular context.