The Following Details Have Been Extracted from the Budget of a Merchandiser

question 5

Multiple Choice

The following details have been extracted from the budget of a merchandiser. Commission and salaries expenses are paid 50% in the month to which they relate and the balance in the next month. Rent and miscellaneous expenses are paid as and when they occur. Insurance is prepaid at the beginning of the quarter. Calculate cash payments for the selling and administrative expenses for the first quarter of the next year.

• A)$70,400
• B)$50,500
• C)$75,000
• D)$62,750

---

Definitions:

Social Responsibility

Social Responsibility is the obligation of businesses to make decisions and take actions that are beneficial for the welfare and interests of society as well as the organization.

Leadership Team

A group of individuals at the top of an organization who are responsible for making strategic decisions and guiding the company towards its goals.

Socially Responsible

Refers to practices and policies that a business adopts to benefit society and the environment, beyond what is legally required.

Customer Loyalty

The likelihood of previous customers to continue buying products or services from a specific business due to satisfaction with the product or service, convenience, or familiarity.