Modern Designs Is a New Business

question 30

Multiple Choice

Modern Designs is a new business. During its first year of operations, credit sales were $45,000 and collections of credit sales were $34,000. One account, $700, was written off. Management uses the percent-of-sales method to account for bad debts expense and estimates 3% of credit sales to be uncollectible. Bad debts expense for the first year of operations is ________.

• A) $650
• B) $1,350
• C) $700
• D) $2,370

Understand the critical role and process of orientation for new employees.

Identify the effectiveness and purposes of different coaching techniques.

Recognize the significance of on-the-job training for specific professions.

Comprehend the concept and goals of coaching and mentoring in workplace training.

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Definitions:

Conjugate Base

The species that remains after an acid has donated a proton during a chemical reaction.

Acid/Base Reaction

A chemical process involving the transfer of protons (H+) from an acid to a base.

Strong Bases

Substances that readily donate hydroxide ions or accept protons during a chemical reaction, characterized by their complete dissociation in water.

Electronegativity

An indicator of how strongly an atom pulls towards itself a pair of electrons that are being shared in a bond.