Below Is Accounting Information for Cascade Company for 2013

question 192

Multiple Choice

Below is accounting information for Cascade Company for 2013:
-What were the total assets at year-end?

• A)$320,000
• B)$296,000
• C)$316,000
• D)$457,000
• E)$116,000

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Definitions:

Accounts Receivable Policy

Guidelines a company follows to manage the collection of money owed from clients.

Credit Manager

A Credit Manager is a professional responsible for overseeing a company's credit policies, assessing creditworthiness, and managing credit lines.

Carrying Costs

The total cost of holding inventory, including storage, insurance, spoilage, and opportunity costs.

Shortage Costs

Costs incurred from not having enough inventory to meet demand, including lost sales and customer dissatisfaction.