You Have Recently Been Hired as an Accounting Intern for Jefferson

question 32

Multiple Choice

You have recently been hired as an accounting intern for Jefferson Mills.The job that you have been assigned for today is to compile a spreadsheet that has six columns.The column headings are: Invoice #; Customer name; < 30 days; 31-60 days; 61-90 days; > 90 days.You are to list every unpaid invoice by customer name with the amount owed entered into the appropriate column for the number of days between the sale date and today.Once you have completed that,you are to sort the report by customer name and then total the amounts listed in each column.What is this report called?

• A)credit report
• B)aging schedule
• C)risk assessment report
• D)turnover delineation
• E)receivables consolidation report

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Definitions:

Marginal Utility

Marginal utility is the additional satisfaction a consumer gains from consuming one more unit of a good or service.

Diminishing Marginal Utility

Diminishing marginal utility is an economic principle stating that as a person consumes more of a good or service, the satisfaction (utility) gained from each additional unit decreases.

Satisfaction

The feeling of pleasure or contentment arising from meeting one's needs, desires, or expectations.

Utility

A measure of satisfaction or benefit that a consumer receives from consuming goods and services.