Dove Corporation Began Its Operations on September 1 of the Current

question 48

Multiple Choice

Dove Corporation began its operations on September 1 of the current year. Budgeted sales for the first three months of business are $250,000, $320,000, and $410,000, respectively, for September, October, and November. The company expects to sell 25% of its merchandise for cash. Of sales on account, 70% are expected to be collected in the month of the sale and 30% in the month following the sale.
The cash collections in November are

• A) $317,750
• B) $389,750
• C) $490,000
• D) $410,000

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Definitions:

Political Disruptions

are events or actions that cause significant changes or interruptions to the usual political activities and processes, potentially leading to instability.

Common Currency

A currency that is used by multiple countries, facilitating international trade and economic stability, like the Euro in the European Union.

Cross-Border Trade

The buying and selling of goods and services between businesses in neighboring countries or regions.

North American Free Trade Agreement (NAFTA)

A trade agreement between Canada, Mexico, and the United States to reduce trade barriers and increase economic collaboration, replaced by USMCA in 2020.