Answer the Following Questions Using the Information Below:
Finmin Company

question 64

Multiple Choice

Answer the following questions using the information below:
Finmin Company has the following sales budget for the last six months of 2015:
$\begin{array}{lrlr}\text { July } & \$ 200,000 & \text { October } & \$ 180,000 \\\text { August } & 160,000 & \text { November } & 200,000 \\\text { September } & 200,000 & \text { December } & 180,000\end{array}$ Sales are immediately due, however the cash collection of sales, historically, has been as follows:
65% of sales collected in the month of sale,
25% of sales collected in the month following the sale,
8% of sales collected in the second month following the sale, and
2% of sales are uncollectible.
-Cash collections for October are ________.

• A) $117,000
• B) $179,800
• C) $194,000
• D) $176,400

---

Definitions:

Tax Borne

Refers to the entity (consumers, producers, or others) that ultimately pays the economic cost of a tax, regardless of who the tax is initially levied upon.

Subsidy Program

A government initiative designed to support businesses or individuals through financial assistance or tax benefits.

Downward Sloping

Describes a line or curve on a graph that shows a decrease in one variable as another variable increases, often used in economics to describe demand curves.

Demand Curves

Graphical representations showing the relationship between the quantity of goods consumers are willing and able to purchase at various prices, typically downward sloping from left to right.