The Numbers in Each Choice Are the Percentages of Total

question 11

Multiple Choice

The numbers in each choice are the percentages of total receivables as follows: Receivables < 30 days old, 31-60 days old, and > 60 days old, respectively. Which of the following results represents the best cash flow?

• A) 75, 15, 10
• B) 30, 33, 37
• C) 40, 45, 15
• D) 50, 30, 20

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Definitions:

Accounting Policies

The specific principles, bases, conventions, rules, and practices applied by an entity in preparing and presenting financial statements.

AASB 6

Refers to the Australian Accounting Standards Board standard that deals with the exploration for and evaluation of mineral resources.

AASB 6

Exploration for and Evaluation of Mineral Resources, an Australian standard that governs the financial reporting of exploration and evaluation expenditures in the mining sector.

Exploration Phase

The period in the development of a mining, oil, or gas project focused on discovering and determining the size and quality of a mineral or hydrocarbon deposit.