Answer the Following Question(s)using the Information Below

question 176

Multiple Choice

Answer the following question(s) using the information below.The following information pertains to Tiffany Company:
Cash is collected from customers in the following manner:
40% of purchases are paid for in cash in the month of purchase, and the balance is paid the following month.Labour costs are 20% of sales.Other operating costs are $15,000 per month (including $4,000 of depreciation) .Both of these are paid in the month incurred.The cash balance on March 1 is $4,000.A minimum cash balance of $3,000 is required at the end of the month.Money can be borrowed in multiples of $1,000.
-What is the ending cash balance for March after borrowing, if required?

• A)$4,000
• B)$3,800
• C)$3,200
• D)$2,800
• E)$3,000

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Definitions:

Procrastination

The act of delaying or postponing tasks or decisions, often habitually, resulting in potential stress or consequences.

Fear of Failure

The apprehension or anxiety about not meeting a standard of success or achievement.

Reflective Analysis

A method of examining and evaluating one's own beliefs, thoughts, and actions, often to improve personal effectiveness or understanding.

Planning

The process of making detailed strategies or arrangements for achieving specific goals or tasks in the future.