Jack and Jill Work at a Bakery

question 57

Multiple Choice

Jack and Jill work at a bakery. In one hour, Jack can decorate either 5 ice-cream cakes or 2 wedding cakes. In one hour, Jill can decorate either 4 ice-cream cakes or 1 wedding cake. According to this scenario, which of the following outcomes will benefit both Jack and Jill the most?

• A) Both Jack and Jill specialize in decorating ice-cream cakes.
• B) Both Jack and Jill specialize in decorating wedding cakes.
• C) Jill specializes in decorating ice-cream cakes and Jack specializes in decorating wedding cakes.
• D) Jill specializes in decorating wedding cakes and Jack specializes in decorating ice-cream cakes.

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Definitions:

Notes Receivable

Claims against debtors that are supported by formal agreements or promissory notes, specifying the amounts owed and payment terms.

Discount On Notes Receivable

An amount deducted from the face value of a note to reflect the interest revenue over the term of the note.

Notes Receivable

Short-term or long-term financial assets representing amounts owed to the company that are documented through formal agreements or promissory notes.

Interest Revenue

This refers to the income that is earned from investments, loans, or savings accounts, essentially any source that pays interest.