If the Collection Period of a Company Is 31 Days

question 14

Multiple Choice

If the collection period of a company is 31 days, and the average receivables are $70,060, what is the total amount of the credit sales?

• A) $2,260
• B) $83,126
• C) $824,900
• D) $2,171,860

---

Definitions:

Observational Learning

The acquisition of knowledge and skills through the observation of others (who are called models) rather than by means of direct experience.

Cognitive Therapy

A form of psychotherapy that emphasizes the importance of thought patterns in contributing to psychological disorders, seeking to modify dysfunctional beliefs and attitudes.

Counter-Arguments

Arguments presented to oppose or refute the points made in another argument, often used in debates or critical discussions.

Social Anxiety

A feeling of unease, worry, or fear about social situations, often driven by a fear of being judged or embarrassed by others.