Finch Company Began Its Operations on March 31 of the Current

question 180

Multiple Choice

Finch Company began its operations on March 31 of the current year. Finch Co. has the following projected costs: (1) 3/4 of the manufacturing costs are paid for in the month they are incurred. 1/4 is paid in the following month.
(2) Insurance expense is $1,000 a month, however, the insurance is paid four times yearly in the first month of the quarter, i.e. January, April, July, and October.
(3) Property tax is paid once a year in November.
The cash payments for Finch Company in the month of April are:

• A) $122,600
• B) $120,600
• C) $123,100
• D) $121,100

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Definitions:

Individual Character

The set of moral and mental qualities and beliefs that distinguishes one person from others, often influencing behavior and decision-making.

Personal Standards

The individual principles and criteria that guide behavior, performance, and the evaluation of oneself and others.

Self-Gratification

Seeking pleasure or satisfaction for oneself, often without regard for long-term consequences or ethical considerations.

Moral Boundaries

The ethical limits and guidelines that individuals set for themselves, guiding their behavior and interactions.