At the Beginning of Year 3 Omega Company Had a $60,000

question 141

Multiple Choice

At the beginning of Year 3 Omega Company had a $60,000 balance in its accounts receivable account and a $3,000 balance in allowance for doubtful accounts. During Year 3, Omega experienced the following events.(1) Omega earned $200,000 of revenue on account(2) Collected $210,000 cash from accounts receivable(3) Wrote-off $2,000 of accounts receivable as uncollectibleOmega estimates uncollectible accounts to be 4% of receivables. Based on this information, the amount of net realizable value of receivables shown on the Year 3 balance sheet is

• A)$48,000.
• B)$46,080.
• C)$49,920.
• D)$50,000.

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Definitions:

Resist Change

The resistance to alter existing processes, habits, or conditions despite potential benefits or pressures.

Stability

Stability refers to the state of being resistant to change and not easily upset or disturbed, often seen as desirable in various contexts such as economy, emotions, and structures.

Change Agent

The person responsible for an organizational change effort.

Logical Incrementalism Model

A strategic approach advocating for gradual changes and small-scale adjustments in decision-making processes to adapt to new information and situations, echoing logical incrementalism.