Gallonte Inc

question 76

Multiple Choice

Gallonte Inc. began operations in April of this year. It makes all sales on account, subject to the following collection pattern: 30% are collected in the month of sale; 60% are collected in the first month after sale; and 10% are collected in the second month after sale. If sales for April, May, and June were $60,000, $80,000, and $70,000, respectively, what were the firm's budgeted collections for April?

• A) $18,000.
• B) $21,000.
• C) $60,000.
• D) $65,000.
• E) None of the answers is correct.

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Definitions:

Delinquent Subcultures

Groups within society that engage in behavior against the societal norms and laws, often among youths.

Differential Illegitimate Opportunity

A theory suggesting that access to opportunities for achieving success through illegal means varies among different social groups.

Means-Goal Gap

The discrepancy between individuals' goals and the legitimate means available to them to achieve those goals, often discussed in the context of strain theory in sociology.

Status Frustration

A sense of disillusionment or dissatisfaction arising from the inability to achieve societal or personal status expectations.