Assume That the Accounts Receivable Balances Are $110,000,$112,000 and $116,000

question 4

Multiple Choice

Assume that the accounts receivable balances are $110,000,$112,000 and $116,000 for 2011,2012,and 2013,respectively.The trend percentage for 2013 is

• A)3.6%.
• B)5.5%.
• C)103.6%.
• D)105.5%.

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Definitions:

ARM

Adjustable Rate Mortgage; a type of mortgage loan where the interest rate varies throughout the loan period based on an index.

Equity

The amount of a home that an owner actually owns.

Loan Balance

The amount of money that remains to be paid on a loan, excluding interest or fees that may accumulate.

Sales Tax

A percentage paid to the government of sales on products or services.