Flyer Company Has Provided the Following Information Prior to Any

question 28

Multiple Choice

Flyer Company has provided the following information prior to any year-end bad debt adjustment: • Cash sales,$150,000
• Credit sales,$450,000
• Selling and administrative expenses,$110,000
• Sales returns and allowances,$30,000
• Gross profit,$490,000
• Accounts receivable,$110,000
• Sales discounts,$14,000
• Allowance for doubtful accounts credit balance,$1,200
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Flyer prepares an aging of accounts receivable and the result shows that 5% of accounts receivable is estimated to be uncollectible.How much is bad debt expense?

• A)$5,500.
• B)$6,700.
• C)$4,240.
• D)$4,300.

Understand the elements and importance of constructive feedback.

Identify perceptual distortions including stereotyping, projection, halo effect, and selective perception.

Understand the dynamics of conflict and its management within organisations.

Recognize the processing and effects of perception in organizational communication and behavior.

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Definitions:

Probability

A quantification of the chances of a given event happening, with its value lying anywhere from 0 to 1.

Simple Events

In probability, an event that cannot be broken down further into simpler components.

Probabilities

They are measures of the likelihood or chance of an event occurring, expressed as a number between 0 and 1.

Sample Space

The collection of every potential result from a statistical experiment.