Ms Marple's Books and Records for 2014 Reflect the Following

question 6

Multiple Choice

Ms. Marple's books and records for 2014 reflect the following information: What is the amount Ms. Marple should include in her gross income in 2014?

• A)$66,000
• B)$67,000
• C)$68,000
• D)$65,000

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Definitions:

Working Capital Needs

The funds required to finance the day-to-day operations of a business, including managing its short-term assets and liabilities.

Explicit Interest

The stated interest rate on a loan or financial instrument, not including the effects of compounding or any hidden charges.

Factoring

Financing method where a firm sells its accounts receivables, usually to a specialized financing company, at a discount to their full value.

Receivables

Payments due from clients to a business for the delivery of goods or services that have not yet been compensated.