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question 24

Multiple Choice

[The following information applies to the questions displayed below.]
The following information is from the manufacturing budget and budgeted financial statements of Altman Corp.:

-Wateredge Corporation has budgeted a total of $361,800 in costs and expenses for the upcoming quarter.Of this amount,$45,000 represents depreciation expense and $7,300 represents the expiration of prepayments.Wateredge's current payables balance is $265,000 at the beginning of the quarter.Budgeted payments on current payables for the quarter amount to $370,000.The company's estimated current payables balance at the end of the quarter is:

• A)$179,500.
• B)$204,500.
• C)$203,500.
• D)$310,000.

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Definitions:

Negative Correlation

A relationship between two variables in which one variable increases as the other decreases, and vice versa, indicating an inverse association.

Scatterplot

A type of graph used in statistics to visually display and assess the relationship between two quantitative variables by plotting data points on a two-dimensional axis.

Bell-Shaped Curve

A graphical representation of a normal distribution, indicating that most occurrences happen near the mean, with fewer observations noted at the extremes.

Coin Flips

A simple randomization technique or decision-making tool where the outcome of a coin toss is used to choose between two alternatives.