During the Month of November, Duffee Company Had Cash Receipts

question 35

Multiple Choice

During the month of November, Duffee Company had cash receipts of $3,500 and paid out $1,000 for expenses. The November 30^th cash balance was $5,300. What was the cash balance on November 1?

• A) $1,800
• B) $2,800
• C) $4,300
• D) $5,800
• E) $7,300

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Definitions:

Cost Driver

A factor that causes the cost of an activity or process to change.

Time Frame

The period during which an event occurs or is planned to occur, often with a specified start and end date.

Cost Data

Information related to the amounts incurred to create a product or service, used for budgeting, valuing inventory, and setting selling prices.

Cost Estimation Methods

Techniques used to predict the costs associated with the production of a product, project, or operation.