Case-Based Critical Thinking Questions Case 1 - Horizon Cleaners

question 4

Multiple Choice

Case-Based Critical Thinking Questions Case 1 - Horizon Cleaners
Horizon Cleaners is an organic dry cleaner for clothing. The price for dry cleaning a shirt is $3.00, the price for pants is $3.50, and the price for dresses is $4.00. All clothes can be either washed or dry cleaned. Dry cleaned clothes can be hung or folded, and folded items cost an additional $0.50 per item.
The application needs to assign the fee for folded clothes. The primary decision for the scenario is to first determine ____.

• A) whether the customer is having a shirt, or pants, or a dress cleaned
• B) when the customer will pick up the clothes
• C) if the customer wants clothes hung or folded
• D) if the customer wants clothes washed or dry cleaned

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Definitions:

Transactions Recorded

The process of documenting financial or commercial activities to maintain an accurate account of business operations.

Accounting Equation

A fundamental principle in finance representing the relationship: Assets = Liabilities + Equity.

Assets

Resources owned or controlled by a company, expected to produce future economic benefits.

Equity

The value of an ownership interest in property, including shareholders' equity in a business.