A Sole Proprietorship Reported the Following Transactions for the Month

question 100

Multiple Choice

A sole proprietorship reported the following transactions for the month of March.The transactions have been journalized and posted to the proper accounts. What is the balance in Accounts Receivable?

• A)$9,000
• B)$2,000
• C)$3,000
• D)$11,000

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Definitions:

Intellectual Capital Equation

A formula used to assess the intangible assets of an organization, such as knowledge, skills, and intellectual property, which contribute to its value.

Competency

One’s personal talents or job-related capabilities.

Inefficiency

The lack of ability to accomplish an objective with the minimum expenditure of time and resources.

Cost of Production

Cost of Production refers to the total expenses incurred in manufacturing a product or delivering a service, including materials, labor, and overhead costs.