ABC Company Began the Month with a Balance of $70,000 $$85,000 from This Information, It Can Be Determined That the in Accounts

question 172

Multiple Choice

ABC Company began the month with a balance of $70,000 in Accounts Receivable. An analysis of the account determined that sales on account for the month totaled $110,000. At the end of the month, the balance in Accounts Receivable was $$85,000. From this information, it can be determined that the ABC Company had collections from customers on account of:

• A) $15,000.
• B) $45,000.
• C) $95,000.
• D) $115,000.

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Definitions:

Marginal Cost

The incremental cost of creating one more unit of a good or service.

Profit-Maximizing

Profit-maximizing refers to the strategy or point where a company achieves the highest possible profit from its operations, after accounting for all costs.

Marginal Revenue Function

A mathematical representation showing how revenue changes as the quantity of goods sold varies.

Book

A collection of printed or handwritten pages, attached along a single edge and encased in a covering.