Assume Sentinel Corp

question 30

Multiple Choice

Assume Sentinel Corp., an equipment distributor, sells a piece of machinery with a list price of $700,000 to Arch Inc. Arch Inc. will pay $725,000 in one year. Sentinel Corp. normally sells this type of equipment for 80% of list price. How much should be recorded as revenue?

• A) $560,000
• B) $580,000
• C) $700,000
• D) $725,000

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Definitions:

Social Security

A government program that provides monetary assistance to people with inadequate or no income.

Retirement Benefits

Financial support, such as pensions or health insurance, provided to individuals who have ended their professional career, typically due to age.

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The process of associating certain attributes, roles, or interests with one gender over another often based on societal norms and stereotypes.

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A person born during the post-World War II baby boom, between 1946 and 1964.