A Newly Created Design Business Called Smart Art Is Just

question 135

Multiple Choice

A newly created design business called Smart Art is just finishing up its first year of operations.During the year,there were credit sales of $40,000 and collections of $36,000.One account for $650 was written off.Smart Art uses the percent-of-sales method to account for uncollectible account expense,and has decided to use a factor of 2% for their year-end adjustment of uncollectible account expense.
-At the end of the year,what is the ending balance in Accounts receivable?

• A) $4,000
• B) $36,000
• C) $3,350
• D) $39,350

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Definitions:

SSE

Cumulative squared discrepancies between predicted values by a model and the corresponding actual data points.

Coefficient Of Determination

A measure used in statistical analysis that assesses how well a model explains and predicts future outcomes, represented as a value between 0 and 1.

Dependent Variable

The variable in an experiment or study that is expected to change in response to changes in another variable known as the independent variable.

Independent Variable

A variable in an experiment that is manipulated or changed by the researcher to observe its effects on the dependent variable.