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

question 31

Multiple Choice

The following details have been extracted from the budget of a merchandising company. 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

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Definitions:

Energy Storage

The capturing of energy produced at one time for use at a later time, often instrumental in managing the supply and demand of energy.

Medical Care

The services provided by professionals to patients for the purpose of promoting, maintaining, monitoring, or restoring health.

Denial

A psychological defense mechanism wherein an individual refuses to accept reality or facts, often in response to uncomfortable or painful truths.

Symptoms

Observable signs or indications of an illness, injury, or condition experienced by an individual.