Home Corporation Will Open a New Store on January 1

question 47

Multiple Choice

Home Corporation will open a new store on January 1.Based on experience from its other retail outlets,Home Corporation is making the following sales projections: Home Corporation estimates that 70% of the credit sales will be collected in the month following the month of sale,with the balance collected in the second month following the month of sale. In a cash budget for April,the total cash receipts will be:

• A)$74,000
• B)$57,000
• C)$114,000
• D)$97,000

---

Definitions:

Ethics Codes

A set of principles and guidelines designed to help professionals conduct their work with integrity, professionalism, and respect for those they serve.

Dogma

A principle or set of principles laid down by an authority as incontrovertibly true.

Duty to Report

A legal or ethical obligation to inform authorities or designated bodies about certain types of information, such as abuse, misconduct, or health risks.

Court Cases

Legal disputes brought before a court for resolution, involving parties seeking judgments or the enforcement of rights.