Freightcan Holders Has Provided the Following Extracts from Their Budget

question 7

Multiple Choice

Freightcan Holders has provided the following extracts from their budget for the first quarter of the forthcoming year: $$\begin{array} { | l | c | c | c | } \hline & \text { Jan } & \text { Feb } & \text { March } \\\hline \text { Sales } ( 30 \% \text { cash } ) & \$ 500,000 & \$ 750,000 & \$ 1,000,000 \\\hline\end{array}$$ The company collects 60% of credit sales in the same month and the balance in the next month. Calculate the collections from the customers for the month of February.

• A) $ 580,000
• B) $720,000
• C) $680,000
• D) $490,000

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Definitions:

Sensory Memory

The shortest-term element of memory, it acts as a buffer for stimuli received through the senses and lasts for a very short time.

Stroop Effect

A cognitive phenomenon that demonstrates the interference in reaction time when the name of a color is printed in a color not denoted by the name.

Transience

The tendency for memory and other cognitive processes to diminish over time, leading to forgetting or the loss of information.

Recognition

The process of identifying something previously seen, heard, or experienced through memory.