Jim Debt Was Reviewing the Total Accounts Receivable

question 22

Multiple Choice

Jim Debt was reviewing the total accounts receivable. This month he received $80,000 from credit customers. This represented 40% of all receivables due. The total amount of accounts receivable is:

• A) $200,000.
• B) $320,000.
• C) $500,000.
• D) $230,000.
• E) None of these.

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Definitions:

Distribution Of Income

Refers to the way total personal income is spread across a population.

In-Kind Transfers

Transfers to the poor given in the form of goods and services rather than cash

Market Value

The existing rate at which an asset or service may be traded in the marketplace.

Poverty Line

A threshold income level below which an individual or family is considered to be in poverty, varying by location and household size.