What Was the Percentage of Decrease in the Accounts Receivable

question 61

Multiple Choice

What was the percentage of decrease in the Accounts Receivable account if the receivables were $80,000 in Year 1,and $60,000 in Year 2?

• A)(25%)
• B)33.33%
• C)(33.33%)
• D)25%

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Definitions:

Families' Budgets

Financial plans created by families to manage their income, expenses, savings, and investments over a specific period.

Demand Elastic

A measure of how much the quantity demanded of a good responds to a change in the price of that good, with high elasticity indicating a significant response.

Demand Inelastic

Describes a situation where the quantity demanded of a good or service is relatively unaffected by changes in its price.

Price Elasticity

A formula that calculates the demand's sensitivity to the good's price variations.