Um Corporation Has Provided the Following Information Concerning Its Raw

question 228

Multiple Choice

Um Corporation has provided the following information concerning its raw materials purchases. The budgeted cost of raw materials purchases in November is $286,032. The company pays for 40% of its raw materials purchases in the month of purchase and 60% in the following month. The budgeted accounts payable balance at the end of November is closest to:

• A) $114,413
• B) $140,333
• C) $171,619
• D) $286,032

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Definitions:

External

Outside of or existing beyond the self or the entity it refers to, often used in contrast with internal.

Internal

Relating to or situated on the inside; intrinsic or inner attributes.

Likert Scale

A psychometric scale commonly involved in research that employs questionnaires. It is used for assessing attitudes by asking respondents to rate their level of agreement with a statement using a choice scale.

Attitudes

A settled way of thinking or feeling about something, typically reflected in a person's behavior.