ABC's Net Accounts Receivable Were $1,000 at December 31,2013 and $1,200

question 120

Multiple Choice

ABC's net accounts receivable were $1,000 at December 31,2013 and $1,200 at December 31,2014.Net cash sales for 2014 were $400.The accounts receivable turnover for 2014 was 5.0.What were ABC's total net sales for 2014?

• A) $5,900
• B) $6,000
• C) $6,400
• D) $11,000
• E) None of these choices are correct

Recognize the communication and informational roles managers play within organizations, such as disseminators and monitors.

Comprehend different leadership styles and their application, including autocratic, democratic, and free-rein leadership.

Become familiar with the steps and considerations involved in the managerial decision-making process.

Understand the concept of employee empowerment and its significance in modern organizational management.

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Definitions:

Product Differentiation

The method of differentiating a product or service from competitors in the marketplace to increase its appeal to a specified target audience.

Monopolistically Competitive

A market structure in which many companies sell products that are similar but not identical, allowing for some degree of market power and product differentiation.

Economic Profits

Economic profits are the excess returns over the total costs, including both explicit and implicit costs.

Pure Competition

A market structure characterized by a large number of small firms, identical products sold by all firms, no barriers to entry or exit, and perfect information among buyers and sellers.