Upton Products Inc

question 19

Multiple Choice

Upton Products Inc. would like to prepare a summary cash budget for the first quarter of 2013. The following information regarding operating activities from the cash receipts and cash disbursements budgets are available: The following information is also available:
What is the cash balance at the end of March expected to be?

• A) $(1,000)
• B) $ 0
• C) $ 1,000
• D) $ 2,000

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Definitions:

Increased Cost

The rise in the financial expenditure required to perform an activity, purchase goods, or maintain operations.

Collapse of Market

A rapid and significant decline in the value or performance of a market, leading to a widespread loss of confidence and investment.

Specific Performance

A legal remedy whereby a court orders the party who breached a contract to perform the promised action rather than merely compensating the other party with money.

Quasi-contract

An obligation imposed by law to prevent unjust enrichment, where the court enforces a contractual obligation on parties who have not agreed to enter into a contract.