ABC Has a Beginning Receivables Balance on January 1st of £430.Sales

question 70

Multiple Choice

ABC has a beginning receivables balance on January 1st of £430.Sales for January through April are £240, £250, £330 and £350, respectively.The trade receivables period is 60 days.How much
Did the firm collect in the month of March? Assume that a year has 360 days.

• A)£240
• B)£250
• C)£330
• D)£350
• E)£430

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Definitions:

Sugar

A sweet-flavored substance derived primarily from sugarcane and sugar beet, used extensively as a sweetener in food and beverages.

Import Tariffs

Taxes imposed by a government on goods brought into its jurisdiction from foreign countries, typically used to protect domestic industries.

Consumer Surplus

The distinction between what consumers are willing and financially capable of paying for a product or service, and the actual expenditure.

Producer Surplus

The difference between what producers are willing to accept for a good or service versus what they actually receive, due to higher market prices.