Lithotech, Inc

question 11

Multiple Choice

Lithotech, Inc. had net sales in 2018 of $800,000. At December 31, 2018, before adjusting entries, the balances in selected accounts were: accounts receivable $122,000 debit, and allowance for doubtful accounts $1,200 credit. Lithotech estimates that 2% of its receivables will prove to be uncollectible. What is the net realizable value of the receivables reported on the statement of financial position at December 31, 2018 after adjusting entries?

• A) $119,560
• B) $120,760
• C) $122,000
• D) $118,360

Identify factors that contribute to successful teamwork and those that challenge it.

Recognize strategies for enhancing team performance and managing team challenges.

Understand the importance of task interdependence in team effectiveness.

Learn about social loafing and measures to mitigate it in a team setting.

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Definitions:

Developmental Processes

Refer to the series of changes or growth that occur in organisms or social organizations over time, often following a predictable pattern.

Scienter

A legal term that refers to the knowledge of the wrongful nature of one's actions, especially in fraud cases.

Rule 10b-5

A regulation under the Securities Exchange Act of 1934 that prohibits fraud, misrepresentation, and deceit in the trading of securities.

Civilly Liable

A term referring to the responsibility of a person to compensate for losses or damages caused by their actions in a civil lawsuit.