Ming Company Assigns $2,000,000 of Its Accounts Receivables for a Finance

question 1

Multiple Choice

Ming Company assigns $2,000,000 of its accounts receivables for a finance charge of 4%.The finance company retains an amount equal to 8% of the accounts receivable for possible adjustments.What amount of cash would Ming receive as a result of this initial transaction?

• A)$1,920,000
• B)$1,840,000
• C)$1,760,000
• D)$1,540,000

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Definitions:

Permissive Parent

A parenting style characterized by a high degree of affection and minimal discipline, allowing children significant freedom and self-regulation.

Authoritative Parent

A parenting style characterized by high expectations of maturity, clear rules and guidelines, and emotional warmth and nurturing.

Uninvolved Parent

A caregiver who shows little to no emotional support, guidance, or involvement in their child's life.

Discipline

The method of teaching individuals to follow a set of rules or conduct by utilizing disciplinary actions to rectify non-compliance.