MCornett Is a Corporation That Sells Breakfast Cereal A)$10000
B)$12000
C)$11000
D)$12900

question 18

Multiple Choice

M.Cornett is a corporation that sells breakfast cereal.Based on the accounts listed below what are M.Cornett's total trade receivables? $\begin{array}{lr}\text { Income tax refund due } & \$ 500 \\\text { Advance due to the company from } & \\\text { the company president } & 300 \\\text { 3-month note due from } \mathrm{M} \text {. Cornett's main customer } & 2,000 \\\text { Interest due this month on the above note } & 100 \\\text { Due and unpaid from this month's sales } & 9,000 \\\text { Due and unpaid from last month's sales } & 1,000\\\end{array}$

• A)$10000
• B)$12000
• C)$11000
• D)$12900

---

Definitions:

Laissez-Faire

An economic philosophy of free-market capitalism that opposes government intervention.

Oliver Wendell Holmes

A prominent American jurist and Supreme Court Justice known for his contributions to legal theory and the development of American common law.

National Association of Colored Women

An organization formed in 1896 in the United States, focused on promoting civil rights and improving the conditions for African-American women and their families through education, job training, and community service.

Lynchings

Extrajudicial killings, usually by hanging, performed by a mob with the intention of enforcing justice, revenge, or intimidation without legal trial.