Solve the Problem. Round to the Nearest Hundredth

question 195

Multiple Choice

Solve the problem. Round to the nearest hundredth.
-What is 88% of 368?

• A) 32,384.00
• B) 3238.40
• C) 32.38
• D) 323.84

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Definitions:

Allowance Method

An accounting technique that companies use to account for bad debts by predicting what percentage of outstanding accounts will become uncollectible.

Bad Debt Expense

An anticipated expense account reflecting the estimated amount of receivables that a company does not expect to collect.

Finance Company

A business that provides loans to individuals and companies, apart from traditional bank lending activities, including consumer credit, leasing, and investment financing.

Statement Of Cash Flows

A financial statement that summarizes information about the cash inflows (receipts) and cash outflows (payments) for a specific period of time.