Hong Kong Clothiers Reported Revenue of $5,000,000 for Its Year

question 90

Multiple Choice

Hong Kong Clothiers reported revenue of $5,000,000 for its year ended December 31, 2009. Accounts receivable at December 31, 2008 and 2009, were $320,000 and $355,000, respectively. Using the direct method for reporting cash flows from operating activities, Hong Kong Clothiers would report cash collected from customers of:

• A)$4,965,000.
• B)$5,000,000.
• C)$5,035,000.
• D)$5,045,000.Cash collections = $320,000 + 5,000,000 355,000 = $4,965,000

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Definitions:

Epiphyses

The end parts of long bones that are involved in growth and development.

Articular Cartilage

The cartilage that covers the epiphysis of long bones.

Osteoporosis

A medical condition characterized by the weakening of bones, making them fragile and more likely to fracture.

Lifestyle Changes

Modifications or adjustments made in daily habits and practices to improve health and well-being.