Given Below Are the Activities of the Phoenix Company Using the Accrual Basis of Accounting,the Total Revenues for Phoenix

question 63

Multiple Choice

Given below are the activities of the Phoenix Company:
$\begin{array} { l } \text {Owners invested cash in business }&\$20,000 \\ \text {Credit sales }&\$ 80,000\\ \text {Cash sales }&\$20,000\\ \text { Cash collections from credit customers}&\$56,000 \\ \text {Purchased inventory on account }&\$ 37,000\\\end{array}$

Using the accrual basis of accounting,the total revenues for Phoenix Company are ________.

• A) $46,000
• B) $90,000
• C) $100,000
• D) $173,000

Recognize how the supply of unique items (such as rare art or antiques) behaves in economic terms.

Understand the influence of nativist movements, like the Know-Nothing Party, on American politics in the 19th century.

Comprehend the core tenets and implications of Republican free labor ideology and its contrast with pro-slavery arguments.

Recognize key events that heightened sectional tensions, such as the caning of Charles Sumner and the Dred Scott decision.

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Definitions:

Ratify

To officially approve or confirm actions, agreements, or treaties through a formal consent, typically by voting or signing.

Warranty

A guarantee provided by a seller regarding the condition of a product and the promise of repair or replacement if necessary.

Contract

A legally enforceable agreement between two or more parties with clear terms and conditions.

Breach

The act of violating a law, obligation, standard, or duty, often resulting in legal consequences or termination of agreements.