If Sales Are $850,000 and the Beginning and Ending Balances

question 69

Multiple Choice

If Sales are $850,000 and the beginning and ending balances of Accounts Receivable are $43,000 and $48,000,respectively,the cash collected from customers is:

• A) $850,000.
• B) $802,000.
• C) $845,000.
• D) $855,000.

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Definitions:

Entrepreneurial Ability

Ability to recognize a business opportunity and successfully set up a business firm to take advantage of it.

Fascism

A political ideology that emphasizes authoritarian nationalism, centralization of power, suppression of dissent, and often a dictatorial leadership.

Mikhail Gorbachev

A former Soviet statesman whose policies of glasnost and perestroika played significant roles in the demise of the Soviet Union.

Overthrow

The act of removing and replacing a government or ruling system by force.