The Cash Collections from Accounts Receivable in October Are

question 137

Multiple Choice

The cash collections from accounts receivable in October are

• A)$270,000.
• B)$272,500.
• C)$210,000.
• D)$218,000.

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Definitions:

Internal Control

Processes and procedures implemented by an organization to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud.

Limitations

Constraints or restrictions that affect the scope, effectiveness, or validity of a process, analysis, or system.

Electronic Communication

The transmission of information using electronic means such as email, instant messaging, social media, or other digital platforms.

Cash Transfer

A movement of funds from one account or entity to another, which can occur electronically or as a physical exchange of money.