Mikhail Corporation Has the Following Sales Forecasts for the First

question 45

Multiple Choice

Mikhail Corporation has the following sales forecasts for the first three months of 2018: $$\begin{array} { l r } \text { Month } & \text { Sales } \\\text { January } & \$ 36,000 \\\text { February } & 24,000 \\\text { March } & 40,000\end{array}$$ Sixty-five percent of sales are collected in the month of the sale and the remainder are collected in the following month. $\begin{array}{lr}\text { Accounts receivable balance (January 1, 2018) } & \$ 16,000 \\\text { Cash balance (January 1,2018) } & 12,000\end{array}$ Minimum cash balance is $20,000. Cash can be borrowed in $1,000 increments from the local bank (assume no interest charges) . How much cash would be collected in March from sales?

• A)$32,000
• B)$58,400
• C)$48,000
• D)$34,400

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Definitions:

Internal Locus

The belief that individuals have control over their life events and outcomes, as opposed to external forces.

Control

Control refers to the power to influence or direct people's behavior or the course of events.

Unconscious

The part of the mind that is inaccessible to the conscious mind but that affects behavior and emotions.

Validity Scales

Measures used in psychological testing to assess the truthfulness or consistency of the test-taker's responses.