Accounts Receivable Has a Normal Balance of $1,000

question 113

Multiple Choice

Accounts Receivable has a normal balance of $1,000. After collecting $700, the balance in the account is

• A) debit $300.
• B) debit $1,700.
• C) credit $300.
• D) credit $1,700.

Develop an understanding of continuous budgeting and rolling budget concepts.

Learn the process of budget coordination and its importance in strategic planning through the master budget.

Understand the role of safety stock in budgeting for inventory management.

Learn to match different budgeting terms with their respective definitions.

---

Definitions:

Social Contagion

The phenomenon where attitudes, behaviors, or emotions spread through a group or community, often unconsciously.

Social Loafing

Each person’s tendency to exert less effort in a group because of reduced accountability for individual effort.

Group Polarization

The tendency for a group's prevailing attitudes or beliefs to become more extreme after discussing them as a group.

Social Facilitation

Improvement in an individual’s performance because of the presence of others.