Use the Information Below to Answer the Following Question(s)

question 119

Multiple Choice

Use the information below to answer the following question(s) .
Three Sisters Catering prepared the following sales budget:

Credit collections are 35% in the month of sale, 55% in the month following the sale, and 10% two months following the sale. The remaining 5% is expected to be uncollectible.
-What are the total cash collections in May at Three Sisters Catering?

• A) $66,200
• B) $21,800
• C) $65,800
• D) $76,400

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Definitions:

Contingent Rewards

Incentives or rewards that are given based on the achievement of specific performance criteria.

Management By Exception

A management strategy where leaders only intervene in decision-making when performance metrics fall outside of accepted boundaries or standards, allowing for more autonomous operations.

Authentic Leader

A leadership style characterized by self-awareness, transparency, integrity, and a focus on building trust and credibility among followers.

Extrinsic Rewards

Rewards given to an individual from an external source, such as money, prizes, or recognition, serving as an incentive for achieving certain goals.