The Following Information Is for High Corp

question 165

Multiple Choice

The following information is for High Corp:

If targeted operating income is $50,000,then targeted sales revenue is ________.(Round the final answer to the nearest dollar. )

• A)$540,000
• B)$390,000
• C)$150,000
• D)$180,000

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Definitions:

Disbursement Float

The time lag between when a payment is made by writing a check and when the funds are actually withdrawn from the payer's account.

Collection Float

The interval between depositing a check into a bank account and the moment the deposited funds are accessible.

Outstanding Cheques

Checks that have been written and issued but not yet cashed or cleared through the banking system.

On-line Retailing

Online Retailing is the selling of goods or services over the internet, where customers can shop from a variety of vendors at any time.