Astor Manufacturing Has the Following Budgeted Sales: January $120000 February

question 107

Multiple Choice

Astor Manufacturing has the following budgeted sales: January $120000 February $180000 and March $150000. 40% of the sales are for cash and 60% are on credit. For the credit sales 50% are collected in the month of sale and 50% the next month. The total expected cash receipts during March are:

• A) $168000.
• B) $159000.
• C) $157500.
• D) $150000.

---

Definitions:

Capital

Wealth in the form of money or other assets owned by a person or organization or available for a purpose such as starting a company or investing.

Securities

Financial instruments that represent an ownership position in a corporation (stock), a creditor relationship with a governmental body or a corporation (bond), or rights to ownership as represented by an option.

Shareholders' Best Interest

The principle that company management should operate in a way that enhances the value received by shareholders.

Proxy Fights

A strategy utilized by shareholders to influence a corporation's management and policies by attempting to vote in favor of their own proposals.