During Its First Year of Operations,Widgets Incorporated Reported Sales Revenue

question 112

Multiple Choice

During its first year of operations,Widgets Incorporated reported sales revenue of $386,000 but collected only $303,000 from customers.The amount to be reported as accounts receivable at the end of the year is:

• A)$689,000.
• B)$386,000.
• C)$303,000.
• D)$83,000.

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Definitions:

Outsourcing Strategy

A business policy where a company hires external vendors to perform tasks, handle operations or provide services that are either difficult to manage or are outside of the company's core business.

Quality-Control Problems

Issues related to the process of ensuring a product or service meets a defined set of quality standards.

Core Competency

A central skill or advantage that a business can leverage to distinguish itself from competitors and succeed in its market.

Competitive Standing

A company's position relative to its competitors, measured by factors such as market share, product quality, and brand strength.