Purchases on Account Are Given Below 55% of the Month's Purchases Will Be Paid in the |

question 121

Multiple Choice

Purchases on account are given below: $$\begin{array} { | c | c | c | } \hline \text { October } & \text { November } & \text { December } \\\hline 30,000 & 40,000 & 50,000 \\\hline\end{array}$$ 55% of the month's purchases will be paid in the month of the purchase; the remaining 45% will be paid in the following month.
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How much will the cash payments for purchases be in November?

• A) $35,500
• B) $34,500
• C) $40,000
• D) $36,000

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Definitions:

Fraudulent Misrepresentation

Deliberately providing false statements or deceitfully omitting information to induce someone into a contract.

Undue Influence

Improper or manipulative pressure exerted by one person over another in order to change that person's decisions or consent.

Fraudulent Misrepresentation

A false statement of fact made by one party to another party, which has the effect of inducing that party into the contract.

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