If the assets of Martin's Pet Store are 107,000 and the owners' ...

[Starlight]

If the assets of Martin's Pet Store are 107,000 and the owners' equity is 75,000, which of the following is a correct statement?
 A) The owners' investment equals 182,000.
  B) The current assets are worth 32,000.
  C) The new income for the period is 32,000.
  D) The long-term liabilities are 75,000.
  E) The liabilities are 32,000.

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 Flextime is
 A) a system in which management sets the work hours for employees.
  B) a system in which employees set their own work hours with no limits.
  C) a system in which employees set their own work hours within employer-determined limits.
  D) working fewer hours than a standard work week.
  E) working more hours than a standard work week.

[dlook33]

Answer to Question 1

E

Answer to Question 2

C

[Starlight]

TYSM

[brbarasa]

Thanks for the timely response, appreciate it