Rebecca Is Starting a New Consulting Business for a Small,local

question 49

Multiple Choice

Rebecca is starting a new consulting business for a small,local target market.She has determined the amount for the four methods: percentage of sales $2,000;how much to spare $1,000;competition spending $5,000;and specific results $3,000.How much should she spend?

• A)$1,000 because it is the least amount.
• B)$3,000 because it is within the range and also for specific results.
• C)$5,000 because it is the largest amount.
• D)$10,000 because it twice the total of the competition.

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Definitions:

Accounts Receivable

Unpaid amounts due to a company from its clients for delivered or utilized goods or services awaiting payment.

Land

It refers to the earth's surface extending downward to the center and upward to infinity, including permanently attached natural objects, and is considered a non-depreciable asset in accounting.

Journalizing

The process of recording transactions in the journal in chronological order, marking the first step in the accounting cycle.

Posting

The process of transferring journal entries to their respective accounts in the ledger.