Quiet Press Has a 45 Day Accounts Receivable Period

question 15

Multiple Choice

Quiet Press has a 45 day accounts receivable period. The estimated quarterly sales for this year,starting with the first quarter,are $1,200,$1,400,$1,900 and $3,200,respectively. How much does the firm expect to collect in the third quarter? Assume that a year has 360 days.

• A) $1,300
• B) $1,400
• C) $1,650
• D) $1,900
• E) $2,550

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Definitions:

Soybeans

A type of legume native to East Asia, widely grown for its edible beans which are used in various food products and for oil.

Opportunity Cost

Opportunity cost is the cost of foregoing the next best alternative when making a decision, representing the benefits an individual, investor, or business misses out on when choosing one alternative over another.

Truck

A motor vehicle designed to transport cargo or goods.

Comparative Advantage

The ability of an entity to produce a good or service at a lower opportunity cost than its competitors, leading to more efficient trade.