The Accounts Receivable Account Has a Beginning Balance of $52,000

question 28

Multiple Choice

The Accounts Receivable account has a beginning balance of $52,000 and an ending balance of $69,000. If $42,000 was sold on account during the year, what were the total collections on account?

• A) $25,000
• B) $59,000
• C) $69,000
• D) $79,000

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Definitions:

Goal-Setting Model

A framework that emphasizes the importance of setting specific, measurable, achievable, relevant, and time-bound goals to enhance motivation and performance.

Achieve Goal

The successful accomplishment or attainment of specific objectives or desired outcomes.

Management Objectives

Goals and targets set by management to guide the direction and evaluate the performance of an organization.

Past Outcomes

Past outcomes refer to the results or consequences of actions, decisions, or events that have occurred previously, often used in analyzing patterns or making future predictions.