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 52

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.What will be the balance of accounts receivable on 1 March?

• A) $1,200,000.
• B) $960,000.
• C) $1,280,000.
• D) $864,000.

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Definitions:

Possible Values

The set of all potential outcomes or results that can arise from a specific event or experiment.

Significance Level

The likelihood of incorrectly discarding the null hypothesis in statistical scrutiny, often characterized by the alpha notation.

Multiple Regression Model

A statistical technique that models the relationship between a dependent variable and several independent variables to predict outcomes.

Annual Income

The total amount of income earned over a year from work, investments, or other sources.