Calculate Cash Given the Following Information

question 321

Multiple Choice

Calculate cash given the following information. Total current assets $57,000; supplies $4,000; average collection period 60.83 days; days' sales in inventory 97.33 days; sales 90,000; cost of
Goods sold 75,000.

• A) $24,000
• B) $22,000
• C) $20,000
• D) $18,000
• E) $16,000

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Definitions:

Herfindahl Index

A measure of the concentration of industries, calculated by summing the squares of the market shares of each firm within the industry.

Market Power

The ability of a company or group of companies to manipulate the price of an item in the market by controlling its supply, demand, or both.

Technologically Progressive

Characteristics of economies, firms, or industries that are consistently implementing and benefiting from new technologies, leading to increased efficiency and productivity.

Price Competition

A market situation where businesses attempt to attract customers by offering products or services at lower prices than their competitors.