Crossland Corporation Reported Sales on Its Income Statement of $435,000

question 52

Multiple Choice

Crossland Corporation reported sales on its income statement of $435,000. On the statement of cash flows, which used the direct method, sales adjusted to a cash basis were $455,000. Crossland Corporation reported the following account balances on its balance sheet for the year: Based on this information, the beginning balance in accounts receivable was:

• A)$50,000
• B)$40,000
• C)$30,000
• D)$20,000

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Definitions:

Maladaptive Strategies

Behavioral or cognitive tactics that may provide short-term relief but are ineffective or harmful in the long-term.

Poorer Adjustment

A lower ability to adapt effectively to new environments, situations, or changes, often resulting in negative emotional or behavioral responses.

Defense Mechanism

An unconscious mental tactic employed to shield an individual from the stress caused by thoughts or feelings deemed unacceptable.

Frustrated Desires

Feelings of dissatisfaction or discontentment when one's goals or needs are not fulfilled or blocked.