Nigel, Age 17, Is a High School Student Attending Classes

question 4

Multiple Choice

Nigel, age 17, is a high school student attending classes at a local community college. He was asked to sign consent to participate in a research study for one of his classes for extra credit. Can Nigel participate without his parent's consent?

• A) Yes, because he is attending a post-secondary institution, his parent's consent is not necessary.
• B) No, Nigel can only participate if his parents consent to his participation.
• C) Yes, Nigel wants to participate and at his age his assent overrides parental consent.
• D) No, it is always unethical for students to participate in studies for extra credit.

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Definitions:

Cash Collections

The process of receiving and recording the amount of money received from customers or clients, typically in the context of accounts receivable.

Sales Budget

An estimate of the expected sales revenue for a period, which serves as a foundation for a company's production and marketing planning.

Master Budget

An inclusive financial planning document that consolidates all individual budgets related to sales, cost of goods sold, operations, overheads, and capital expenditures.

Credit Sales

Sales made by a business where payment is delayed as per agreed terms with the buyer.