Author Question: Chase invests 5,000 of his own money in his new auto detailing business. He then obtains a loan and ... (Read 58 times)

plus1 · **on:** Jul 14, 2018

Chase invests 5,000 of his own money in his new auto detailing business. He then obtains a loan and builds a small workshop in his backyard for 10,000. At this point assets are ____, liabilities are ____, and owners' equity is ____.
A) 10,000; 5,000; 15,000
B) 15,000; 10,000; 5,000
C) 5,000; 0; 5,000
D) 15,000; 10,000; 0
E) 10,000; 5,000; 5,000

Question 2

Gina Robinson, Inc (GRI)

GRI management has decided to reinvent the culture of the organization. Previously, the company tried to make jobs more appealing by adding more responsibilities to each job description. However, this did not work. Next, the company decided to add flextime. It believed that this would make employees more dedicated.

GRI then introduced even more work options for employees. For example, management decided to group all full-time employees into teams to allow employees with different backgrounds to learn from each other. Many different kinds of teams were allowed, as long as the group members did not interact via the Internet or any other electronic means. The managers reasoned that team members must work face to face to learn from and truly engage with each other.

Once these teams were formed, GRI management noticed that the quality of employees' work was much improved. The managers also observed that people felt much more comfortable with and tolerant of each other.

Refer to Gina Robinson, Inc As the employees form teams at GRI, they should know that each person's role within the group starts to become apparent during the ____ stage of team development.
A) norming
B) adjourning
C) performing
D) storming
E) forming