A Company's History Indicates That 20% of Its Sales Are

question 184

Multiple Choice

A company's history indicates that 20% of its sales are for cash and the rest are on credit.Collections on credit sales are 30% in the month of the sale,50% in the next month,and 15% the following month.Projected sales for January,February,and March are $60,000,$85,000 and $95,000,respectively.The March expected cash receipts from current and prior credit sales is:

• A)$57,000
• B)$63,080
• C)$64,000
• D)$80,750
• E)$90,250

---

Definitions:

Stanford-Binet

An intelligence test that assesses cognitive abilities and IQ, originally developed by Alfred Binet and then expanded at Stanford University.

Cultural Influence

The effect that a society's values, norms, and practices have on the behavior and attitudes of its members.

Progressive Matrices

A type of IQ test that assesses non-verbal reasoning abilities through the use of abstract designs that participants must complete or solve.

Wechsler Intelligence Scales

A series of standardized tests used to evaluate cognitive and intellectual abilities in children and adults.