Bracken,Inc

question 42

Multiple Choice

Bracken,Inc.uses the direct method to determine its cash flow from operations.During the year,it had sales revenue of $480,000.Its beginning Accounts Receivable balance was $48,000,and its ending Accounts Receivable balance was $64,000.Its cash collected from customers for the year was:

• A)$480,000.
• B)$464,000.
• C)$496,000.
• D)$592,000.

---

Definitions:

Fiscal Policy

Government policy relating to taxation, government spending, and borrowing, aimed at influencing a country's economy.

Monetary Policy

A strategy employed by a nation's central bank to control the money supply, often targeting inflation or interest rates to ensure economic stability.

Economic Policy

The actions taken by a government to influence its economy, including fiscal policy (taxing and spending practices) and monetary policy (control of the money supply and interest rates).

Progressive Taxes

A tax system in which the rate of taxation increases as the taxable amount increases, thereby placing a higher financial burden on individuals or entities with higher incomes.