Kam Department Store Reported the Following Information for 2016 $\begin{array}{lr}&\text { October }&\text { November }&\text { December }\\\text { Budgeted sales }&\$1,240,000&\$1,160,000&\$1,440,000\end{array}$

question 63

Multiple Choice

Kam Department Store reported the following information for 2016: $\begin{array}{lr}&\text { October }&\text { November }&\text { December }\\\text { Budgeted sales }&\$1,240,000&\$1,160,000&\$1,440,000\end{array}$
-All sales are on credit.
-Customer amounts on account are collected 50% in the month of sale and 50% in the following month.
How much cash will Kam receive in November?

• A)$580,000
• B)$1,300,000
• C)$1,200,000
• D)$1,160,000

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Definitions:

Cultural Norms

Shared expectations and rules that guide behavior of people within social groups, often dictating what is considered acceptable or unacceptable within that society.

Electronically Activated Records

A method of collecting data that uses electronic devices to record certain types of behavioral data.

Conscientious People

Individuals who are diligent, careful, and meticulous; often reliable and responsible.

Openness To Experience

A personality trait characterized by a willingness to try new experiences, engage in diverse activities, and entertain novel ideas.