While Jessica Would Have Liked to Have Cash Back, She

question 39

True/False

While Jessica would have liked to have cash back, she felt the customer service representative was fair when she allowed Jessica to return the shirt for store credit. This demonstrates the idea of procedural fairness.

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Definitions:

Credit Sales

Sales where the payment is not received at the time of sale but is promised to be paid at a later date.

Cash Expected

The amount of money a business anticipates receiving over a specified period, often used in budgeting and planning.

Minimum Cash Balance

The lowest amount of cash that a company aims to hold in its accounts to ensure financial stability and meet its operational needs.

Cash Budget

A financial plan that projects future cash flow by estimating incoming cash receipts and outgoing cash payments.