Figure 15-4
Budgeted Sales for the Second Quarter of the Current

question 73

Multiple Choice

Figure 15-4
Budgeted sales for the second quarter of the current year are as follows: $\begin{array}{lc} & \text { Budgeted Sales } \\\text { Apri1 } & £ 150,000 \\\text { May } & 200,000 \\\text { June } & 180,000\end{array}$ The company collects 20 per cent in the month of sale, 70 per cent in the first month following the sale, and 10 per cent in the second month following the sale.
-Refer to Figure 15-4 above. Total cash collected in June will be

• A)£180,000.
• B)£191,000.
• C)£90,000.
• D)£140,000.

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Definitions:

Comparative Form

A grammatical construction used in many languages to compare two items or states, often formed by modifying adjectives or adverbs.

Revenue And Expense

Financial terms identifying the income a company generates and the costs incurred to generate that income, respectively.

Earnings Per Share

A financial metric that gauges the portion of a company's profit allocated to each outstanding share of common stock.

Common Stock

Equity ownership in a corporation, with voting rights and eligibility to receive dividends.