What Was the Percentage of Change in Accounts Receivable If

question 16

Multiple Choice

What was the percentage of change in Accounts Receivable if the balance was $80,000 in 2013 and $60,000 in 2014?

• A)-25.00%.
• B)+25.00%.
• C)-33.33%.
• D)+33.33%.

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Definitions:

Income Statement

A financial statement that reports a company's financial performance over a specific accounting period, detailing revenues, expenses, and profits or losses.

Revenues

The total amount of income generated by the sale of goods or services related to the company's primary operations.

Expenses

Costs incurred in the process of earning revenue, including operational, administrative, and marketing costs.

Total Stockholders' Equity

The total value of a corporation's equity owned by shareholders, synonymous with stockholders' equity but emphasizes the aggregation.