Smart Art Is a New Business

question 77

Multiple Choice

Smart Art is a new business.During its first year of operations,credit sales were $45,000 and collections from credit sales were $31,000.One account for $600 was written off.Management uses the percent-of-sales method to account for bad debts expense and estimates 3% of credit sales to be uncollectible.What is the balance of Accounts Receivable at the end of the first year?

• A)$14,000
• B)$12,050
• C)$13,400
• D)$12,650

Understand the role of general managers, project managers, and team leaders in guiding organizational efforts and achieving goals.

Understand the basic functions of management including planning, organising, leading, and controlling.

Identify and describe the primary roles that managers play in organizations according to Henry Mintzberg.

Recognise the importance and application of human, technical, and conceptual skills in management.

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Definitions:

Stress-reducing Goals

Objectives aimed at lowering psychological or physical tension and improving overall well-being.

Alcoholic Beverages

Beverages containing ethanol, commonly known as alcohol, which are consumed for recreational and cultural reasons.

Daily Calories

The amount of energy, measured in calories, that a person needs to consume each day to maintain their body's functions.

Somatoform Disorder

A mental disorder characterized by physical symptoms that have no apparent physical cause, reflecting psychological rather than physical origins.