Ultimate ________ of a firm depends on who owns the major portion of the common shares and thus controls the direction of the firm through voting power.
A) managerial control
B) creditor control
C) shareholder control
D) government control
Question 2
Use the following information to calculate the change in the company's cash balance for the year.
Credit Sales 800,000
Cash Sales 500,000
Operating Expenses on Credit 200,000
Cash Operating Expenses 700,000
Accounts Receivable (Beg. of Year) 50,000
Accounts Receivable (End of Year) 80,000
Accounts Payable (Beg. of Year) 50,000
Accounts Payable (End of Year) 100,000
Income Taxes Paid 160,000
A) 365,000 B) 180,000 C) 145,000 D) 260,000
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