Answer the Following Questions Using the Information Below

question 135

Multiple Choice

Answer the following questions using the information below:
The following information pertains to the January operating budget for Canberra Corporation.
∙ Budgeted sales for January $100 000 and for February $200 000.
∙ Collections for sales are 70% in the month of sale and 30% the next month.
∙ Gross margin is 30% of sales.
∙ Administrative costs are $10 000 each month.
∙ Beginning accounts receivable is $20 000.
∙ Beginning inventory is $14 000.
∙ Beginning accounts payable is $60 000.(All from inventory purchases. )
∙ Purchases are paid in full the following month.
∙ Desired ending inventory is 20% of next month's cost of goods sold (COGS) .
-For January,budgeted net profit is:

• A)$20 000.
• B)$30 000.
• C)$40 000.
• D)None of these answers are correct.

Understand the major attributes and expected behaviors related to health care law.

Recognize the relationship between state and federal laws in the context of health care legislation.

Identify compliance requirements for hospitals under specific health care acts.

Identify the principles of the Health Insurance Portability and Accountability Act (HIPAA) and common violations.

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Definitions:

Subsequent Holder

An individual or entity that lawfully receives possession or control of a negotiable instrument, such as a check or promissory note, after it has been issued.

Honor

A principle that drives individual conduct to embody integrity, respect, and ethical behavior.

Certify

To officially acknowledge or attest to the truth, accuracy, or authenticity of something through documentation.

Dishonored

A term used to describe a financial instrument, like a cheque or promissory note, that has been presented for payment but was refused.