Use the Information Below to Answer the Following Questions $$\begin{array} { l l } \text { January } & \$ 1,080,000 \\\text { February } & \$ 1,200,000 \\\text { March } & \$ 1,280,000\end{array}$$

question 20

Multiple Choice

Use the information below to answer the following questions.
Sales in December were $960,000. Projected sales for the first quarter of 2015 are:
$$\begin{array} { l l } \text { January } & \$ 1,080,000 \\\text { February } & \$ 1,200,000 \\\text { March } & \$ 1,280,000\end{array}$$ Sales are 20% cash and 80% on credit. Debtors pay in the month following the sale.
-Refer to the table above.Calculate total cash collected from sales for the month of March.

• A) $1,280,000.
• B) $1,456,000.
• C) $1,216,000.
• D) $256,000.

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Definitions:

Intangible Assets

Assets that do not have a physical presence but possess value, such as intellectual property, brand recognition, and patents.

Tangible Values

Values that can be quantified or measured, often related to physical assets or financial performance.

Corporate Governance

The framework of rules, practices, and processes by which a company is directed and controlled, ensuring accountability and fairness to stakeholders.

Ethics

A branch of philosophy that deals with questions about what is morally right and wrong, good and bad, fair and unfair.