The Boat Works Started the Month with $1

question 35

Multiple Choice

The Boat Works started the month with $1.28 million in accounts receivable.Sales for the month were $3.4 million.The firm collects 35% of its sales in the month of sale with the remainder paid the following month.What is the accounts receivable balance at month end?

• A) $2.21 million
• B) $1.19 million
• C) $3.49 million
• D) $2.71 million

Understand the definitions and key characteristics of projects, including their temporary nature and specific objectives.

Recognize the importance and applications of project management tools like Gantt charts, PERT networks, and flow charts in planning and executing projects.

Identify the roles and skills effective project managers must possess, such as leadership, communication, and strategic thinking.

Grasp the concept of Management by Objectives (MBO) and its steps, including setting objectives, developing action plans, and performance appraisal.

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Definitions:

Semiannual Interest

Interest that is calculated and paid twice a year, often on bonds or loans.

Subsidiary Company

A company that is completely or partly owned and wholly controlled by another company, known as the parent company.

Parent Company

A corporation that has control over one or more subsidiary companies, usually by owning a significant portion of their stock.

Fair Value

The predicted cost at which a property can be purchased or sold in a present deal between agreeable participants.