The 2016 Income Statement of Phillips Co

question 34

Multiple Choice

The 2016 income statement of Phillips Co.reported total sales revenue of $460,000;the 2015 balance sheet showed a balance in accounts receivable of $70,000 while the 2016 balance sheet showed a balance in accounts receivable of $100,000.The amount of cash collected from customers was:

• A)$530,000.
• B)$460,000.
• C)$490,000.
• D)$430,000.

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Definitions:

Conditioned

A learned response to a previously neutral stimulus, resulting from repeated association with a stimulus that elicits a natural response.

Acquisition Behavior

The process by which individuals learn to acquire new information or behaviors through observation, conditioning, or practice.

Biological Predisposition

A natural tendency or inclination to behave or react in a particular way, often with a genetic basis influencing susceptibility to specific conditions or diseases.

Observational Learning

The process of learning behaviors by watching and imitating others, as identified in the social learning theory.